A tax rate buydown is an option employers have to make a payment to reduce their tax rate.
If your account has been charged with benefits paid to former employees, you can voluntarily buy back all or part of the charges to reduce your tax rate. If you make a partial buydown, the most recent charges in the experience period will be canceled first. For more information about Tax Rate Buydown go to Employer Handbook: Tax Rate Information, Tax Rate Buydown page. The tax rate buydown must be received within 120 calendar days after the beginning of the calendar year for which the tax rate is effective. All buydown payments must be made electronically using the process listed below. This option is not available if there is past due debt on your account.
NOTE: The Tax Rate Buydown option will only display during the first 120 days of the calendar year - through April 30th.
There is a calculation tool in your online employer account to assist you, see Forecast Tax Calculator.