McMaster's Announcement on UI Tax Rates is 'Welcome News' for Small Businesses

Date: November 06, 2023

This is the third year in a row the state has reduced UI tax rates

State Director Ben Homeyer released the following statement today in response to Gov. Henry McMaster’s announcement that unemployment insurance (UI) tax rates would remain the same or decrease for South Carolina employers in 2024:

“High taxes are a perennial problem for small businesses, so today’s announcement is welcome news. The less businesses have to pay in unemployment insurance taxes, the more revenue they’ll have to grow their businesses and hire more people.”

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