The State of Florida borrowed money from the Federal Government to help pay for unemployment benefits.  As a result, ALL Florida Employers are now being charged interest on this federal loan as a "Special Annual Assessment."

The amounts are being calculated based on the taxable wages reported between the date of 07/01/09 through 06/30/2010.  the payment is due by June 30, 2011.

Each employer will receive a notice from the Florida Department of Revenue titled "Unemployment Tax Assessment Notice for Interest on Federal Advances."

Some employers have already received this notice.  Please forward a copy to C&L Value Advisors, LLC for our records.  If you have any questions, please contact us.

Jolene T. Loos, CPA

C&L Value Advisors LLC

813.286.7373