Oklahoma Law Renews Unemployment Technology Reinvestment Tax

Oklahoma is renewing state unemployment insurance program’s technology reinvestment tax through 2027, under a law that will go into effect on Nov. 1.

HB 2456 extends the technology reinvestment tax, which expired on Dec. 31, 2022, through Dec. 31, 2027. The state employment security commission uses the revenue collected from the technology reinvestment tax to upgrade its technology hardware.

The technology reinvestment tax will remain 5% of an employer’s unemployment taxes, under the bill. Unemployment tax rates will continue to be reduced by 5% to offset the tax.

All employers will be subject to the tax, under the bill. Previously, ...