McMaster: Unemployment Insurance Tax rates will decrease or remain same for state’s employers

COLUMBIA, S.C. (WOLO)– At the State House Thursday, South Carolina Governor Henry McMaster announced that businesses in the state would either see a decrease, or the same unemployment insurance tax rate next year.

This after the State General Assembly invested Federal Cares Act funding into the state’s unemployment insurance trust fund last year, essentially allowing South Carolina to avoid federal loans.
McMaster says with a balance of more than 1 billion dollars, 2022 tax rates will either be lower than the last two years, or stay the same. He was joined by the State Department of Employment and Workforce’s Executive director for the announcement.