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May 15, 2007
Texas consumers won't be the only ones waiting by the mailbox for a tax refund this year.
The Texas Workforce Commission said Tuesday that nearly 360,000 Texas employers who pay into the Unemployment Compensation Trust Fund will soon receive refunds totaling $320 million.
"Strong job growth has reduced demands on the unemployment insurance system in recent years," TWC Chairwoman Diane Rath said. "Texas employers can benefit from refunds when the trust fund is robust."
The Unemployment Compensation Trust Fund has risen above state mandated levels -- which prompted the Texas Workforce Commission to send surplus tax credits to employers at an average amount of $800.
After the refunds are paid, the Unemployment Compensation Trust Fund will still stand at $1.66 billion.
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