Are Unemployment Benefits Taxable?

All unemployment insurance benefits are fully taxable on your federal and state income taxes. You have the option of having federal and/or state taxes withheld from your benefit payments. Deductions are 10 percent of the gross benefit payment for federal taxes and 5 percent of the gross benefit payment for state taxes. If you elect to have taxes deducted, you will have to complete and sign the Tax Withholding Agreement form 60­0360.

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