What rate is charged to new companies in Mississippi for unemployment insurance?

Newly established companies in Mississippi generally face an initial unemployment insurance tax rate of 1.00%. This rate is designed to provide new businesses with a manageable entry point into contributing to the state's unemployment compensation fund. Over time, as companies establish their experience ratings based on their employment history and claims, their tax rates may adjust; however, the initial rate remains fixed for new employers. This structure helps to facilitate the startup phase of a business without imposing overly burdensome financial obligations right from the outset. The choices provided with rates either lower or higher than 1.00% do not reflect the standard initial rate for new companies, which underscores the relevance of the 1.00% rate in aiding business growth and employment stability in the early stages.