                                 CODE OF VIRGINIA

BENEFIT RATIO (§ 60.2-530)

A. 1. The &#8220;benefit ratio&#8221; of each employer for a given calendar year
shall be the percentage, rounded to the nearest one-tenth of a percent, equal to
the employer&#8217;s benefit charges for the 12 consecutive calendar month
period ending on June 30 immediately preceding that calendar year, divided by
the total of his payroll for the same period except that:
			a. For an employer whose account has been chargeable with benefit charges for
48 or more consecutive completed calendar months, the &#8220;benefit
ratio&#8221; shall be the percentage, rounded to the nearest one-tenth of a
percent, equal to the employer&#8217;s benefit charges for the most recent 48
consecutive completed calendar month period ending on June 30 immediately
preceding that calendar year, divided by the total of his payrolls for the same
period;
			b. For an employer whose account has been chargeable with benefit charges for
36 but less than 48 consecutive completed calendar months the &#8220;benefit
ratio&#8221; shall be the percentage equal to the employer&#8217;s benefit
charges for the most recent 36 consecutive completed calendar month period
ending on June 30 immediately preceding that calendar year divided by his
payroll for the same period; and
			c. For an employer whose account has been chargeable with benefit charges for
24 but less than 36 consecutive completed calendar months the &#8220;benefit
ratio&#8221; shall be the percentage, rounded to the nearest one-tenth of a
percent, equal to the employer&#8217;s benefit charges for the most recent 24
consecutive completed calendar month period ending on June 30 immediately
preceding that calendar year divided by his payroll for the same period.

   2. The term &#8220;payroll&#8221; as used in this section means the greater of
   (i) the taxable payroll on which taxes have been paid on or before September
   30 immediately following such June 30 or (ii) $1.

B. Where benefit charges are not available for any or all of the periods used to
determine an employer&#8217;s benefit ratio, benefit wages divided by three
shall be used in lieu of benefit charges for those periods benefit charges are
not available, in combination with benefit charges, where available to determine
an employer&#8217;s benefit ratio.

HISTORY: Code 1950, § 60-70; 1954, c. 203; 1956, c. 440; 1960, c. 136; 1968, c.
738, § 60.1-82; 1977, c. 330; 1981, c. 606; 1986, c. 480; 2014, c. 191.