Tax Department Tip of the Month
 Tax Tip for July, 2008
2008 Surplus Credit Payment
2008 Surplus Tax Credit payments are currently being mailed to Texas employers. TWC is issuing the surplus tax credit payments after qualified employers file their first quarter 2008 tax returns and pay the taxes due. The potential 2008 surplus credit for an eligible employer is 0.13 percent of the unemployment insurance (UI) taxes paid between October 1, 2006 and September 30, 2007.
Because the surplus credit you are due is a credit against future UI tax liability, in some cases, you may owe only the Employment and Training assessment and not owe any UI taxes for 2008. If this is the case, your 2008 surplus credit, which is a credit against actual UI taxes paid, will be available during 2009 and 2010.
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