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MIAMI (CBSMiami/NSF) —  Florida’s unemployment taxes are set to drop for many businesses with the start of 2016.

Gov. Rick Scott’s administration said Wednesday the minimum tax rate will be $7 per employee starting on Friday.

That’s down from a minimum rate of $16.80 per employee in 2015, according to the governor’s office and the Florida Department of Revenue.

The rates paid by businesses are calculated through a formula, but the maximum rate in 2016 will remain at $378 per employee, which can apply, for example, to businesses that have delinquencies longer than a year, according to the Department of Revenue website.

The taxes go to paying benefits for workers who lose jobs.

(The News Service of Florida contributed to this report.)

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