JEFFERSON CITY — Missouri businesses will continue to pay higher unemployment taxes next year in order to pay down a state debt to the federal government.
Missouri began borrowing from the federal government in 2008 to pay jobless befits after an economic downturn drained the state's unemployment benefits trust fund. That debt has remained outstanding for several years.
Businesses would normally pay $42 per employee per year under the federal unemployment benefits tax. But the Missouri Chamber of Commerce and Industry said Missouri businesses will have to pay $63 per employee in 2014.
Missouri is one of 13 states being hit with a higher tax rate to help pay down its federal loan. The chamber said Missouri owes $308 million to the federal government.