§ 1324. Rate of contribution
(a) For contribution rate years beginning prior to July 1, 1987, the standard rate of contributions shall be five and four-tenths percent. Each employer who has not been subject to this chapter for a sufficient period of time to have his or her rate computed under section 1326 of this title shall pay contributions at a rate, not exceeding five and four-tenths percent, that is the higher of (1) one percent or (2) that percent represented by rate class 11 in applicable rate schedule determined pursuant to section 1326 of this title, in effect with respect to the calendar quarter for which contributions are payable.
(b) For contribution rate years beginning July 1, 1987 and subsequent thereto:
(1) the standard rate of contributions shall be five and four-tenths percent;
(2) each employer who has not been subject to this chapter for a sufficient period of time to have the rate computed under section 1326 of this title shall pay contributions at the rate of one percent, except that foreign corporations classified in the three-digit North American Industry Classification System Code as 236, 237, or 238 shall pay contributions at a rate equal to the average rate as of the most recent computation date paid by all employers so classified. (Amended 1971, No. 77, § 4, eff. Dec. 31, 1971; 1977, No. 64, § 12, eff. Jan. 1, 1977; 1983, No. 124 (Adj. Sess.), § 1; 1987, No. 81; 2001, No. 56, § 3; 2003, No. 131 (Adj. Sess.), § 1.)