Florida is the birth place of Professional Employer Organizations and today boasts the largest number of in-state PEOs of any state in the union. With no income tax, no mandated payment scheduling and competitive SUTA rates, Florida has always been an opportunistic location for young entrepreneurs looking to start a new business. All PEOs broadly offer payroll, worker’s compensation, benefits and human resources administration, however the rates and specific services offered by each Florida PEO can vary greatly. With over 700 PEOs operating in the United States, it can be difficult and often impossible to carry out the due diligence necessary to procure the “perfect fit”. For this reason, most business owners choose to utilize a PEO broker to streamline the process and guarantee results. When looking for a PEO in Florida, don’t go it alone! Our clients consistently save up to 25% on their custom fit HR solution and our 98% retention rate shows that we take our job of matching businesses with the perfect Florida PEO seriously.
The Sunshine State
Florida Worker’s Comp
• Index Rate: 1.82
• National Premium Rate Rank: 29th
• % of National Median: 97
• Minimum Wage: $7.93 (eff. 1/1/14)
• No mandated payment schedule.
• No Income Tax Withholding.
• SUTA Rate Range: 2.02 – 5.40%
• New Business Rate: 2.70%
• Wage Base: $8500