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Patti59
Level 2

Changing state unemployment rate from a decimal to a percentage?

How do I enter .0013 for my new state unemployment rate as a percentage to calculate the taxes correctly?

Sorry, just confused here..... :-0

Solved
Best answer February 07, 2022

Best Answers
MonicaM3
Moderator

Changing state unemployment rate from a decimal to a percentage?

Hi there @Patti59

 

I get how confusing converting decimal numbers to percentages can be. I'm here to help. 

 

I always use a decimal to percentage calculator to make sure that I'm converting correctly. There isn't a specific one necessarily, I just do a search to find one.

 

In this case, your new state unemployment rate of .0013 works out to .13%.

 

Now you can update your State Unemployment Insurance rate:

 

Sign in to QuickBooks Online.

  1. Go to Settings ⚙, then select Payroll settings.
  2. Next to the state you want to update, select the Edit ✎ icon.
  3. In the State Unemployment Insurance (SUI) Setup section, select Change or add new rate.
  4. Enter your new rate and its effective date. For most states the effective date is 1/1. For TN, VT, and NJ the date is 7/1.
    • If you have already created paychecks with the wrong rate, or need to correct a prior quarter rate, contact us.
  5. If you have a surcharge or assessment tax rates, enter it here as well.
  6. Enter your new rate and its effective date.
  7. Select OK to save your changes.

You're all set! Let me know if you have any other questions about updating your SUI or anything else. I'm happy to help anytime!

View solution in original post

4 Comments 4
MonicaM3
Moderator

Changing state unemployment rate from a decimal to a percentage?

Hi there @Patti59

 

I get how confusing converting decimal numbers to percentages can be. I'm here to help. 

 

I always use a decimal to percentage calculator to make sure that I'm converting correctly. There isn't a specific one necessarily, I just do a search to find one.

 

In this case, your new state unemployment rate of .0013 works out to .13%.

 

Now you can update your State Unemployment Insurance rate:

 

Sign in to QuickBooks Online.

  1. Go to Settings ⚙, then select Payroll settings.
  2. Next to the state you want to update, select the Edit ✎ icon.
  3. In the State Unemployment Insurance (SUI) Setup section, select Change or add new rate.
  4. Enter your new rate and its effective date. For most states the effective date is 1/1. For TN, VT, and NJ the date is 7/1.
    • If you have already created paychecks with the wrong rate, or need to correct a prior quarter rate, contact us.
  5. If you have a surcharge or assessment tax rates, enter it here as well.
  6. Enter your new rate and its effective date.
  7. Select OK to save your changes.

You're all set! Let me know if you have any other questions about updating your SUI or anything else. I'm happy to help anytime!

Patti59
Level 2

Changing state unemployment rate from a decimal to a percentage?

Thank you very much MonicaM3!

I am using quickbooks desktop versus the online, so I went to my payroll item list and changed the rate there.

It says quickbooks will attempt to catch up if I have already created paychecks in this quarter, which I have.

Hope this is correct?  It would be nice if the state of Florida would send you the new rate before January 1 so my payroll reports would be correct.  Not sure if I will need to do adjustments or if quickbooks will correct going forward?

Thank you for your help on calculating the percentage rate.     :-)

 

MonicaM3
Moderator

Changing state unemployment rate from a decimal to a percentage?

Happy to help @Patti59!

 

Most states tend to get new SUI rates out late. You're right, it would make it so much easier if they could get them out before the new year. 

 

Since this is a frequent occurrence, our payroll teams and processes are really great at getting liabilities caught up. If you have our full service payroll subscription, where we pay and file your taxes, we'll get the adjustments made. 

 

If you pay and file your own payroll taxes, you should get a notification when processing payroll asking if you'd like to make those adjustments.

 

Once you've processed your next payroll or two, if you have any questions or don't see any adjustments, let me know. I'll see what I can find for you.

 

Thanks for being part of the Community!

 

 

Patti59
Level 2

Changing state unemployment rate from a decimal to a percentage?

I do pay and file my own payroll taxes so I will look for a notification regarding the adjustments.

I'll contact you if I don't see that in two weeks.  Thanks again!  You've been very helpful!

 

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