§ 60.2-530. Benefit ratio
A. 1. The "benefit ratio" of each employer for a given calendar year shall be the percentage, rounded to the nearest one-tenth of a percent, equal to the employer's benefit charges for the twelve consecutive calendar month period ending on June 30 immediately preceding that calendar year, divided by the total of his payroll for the same period except that:
a. For an employer whose account has been chargeable with benefit charges for forty-eight or more consecutive completed calendar months, the "benefit ratio" shall be the percentage, rounded to the nearest one-tenth of a percent, equal to the employer's benefit charges for the most recent forty-eight consecutive completed calendar month period ending on June 30 immediately preceding that calendar year, divided by the total of his payrolls for the same period;
b. For an employer whose account has been chargeable with benefit charges for thirty-six but less than forty-eight consecutive completed calendar months the "benefit ratio" shall be the percentage equal to the employer's benefit charges for the most recent thirty-six consecutive completed calendar month period ending on June 30 immediately preceding that calendar year divided by his payroll for the same period; and
c. For an employer whose account has been chargeable with benefit charges for twenty-four but less than thirty-six consecutive completed calendar months the "benefit ratio" shall be the percentage, rounded to the nearest one-tenth of a percent, equal to the employer's benefit charges for the most recent twenty-four consecutive completed calendar month period ending on June 30 immediately preceding that calendar year divided by his payroll for the same period.
2. The term "payroll" as used herein means the taxable payroll on which taxes have been paid on or before September 30 immediately following such June 30.
B. Where benefit charges are not available for any or all of the periods used to determine an employer's benefit ratio, benefit wages divided by three shall be used in lieu of benefit charges for those periods benefit charges are not available, in combination with benefit charges, where available to determine an employer's benefit ratio.
(Code 1950, § 60-70; 1954, c. 203; 1956, c. 440; 1960, c. 136; 1968, c. 738, § 60.1-82; 1977, c. 330; 1981, c. 606; 1986, c. 480.)
Sections: Previous 60.2-523 60.2-524 60.2-525 60.2-526 60.2-527 60.2-528 60.2-529 60.2-530 60.2-531 60.2-532 60.2-533 60.2-534 60.2-535 60.2-536 60.2-536.1 NextLast modified: April 3, 2009