Texas Workers’ Compensation Commissioner Ryan Brannan is lowering the maintenance tax rate paid on premiums collected by workers’ compensation insurance carriers for the third straight year, the Texas Department of Insurance announced.
The tax rate for premiums collected in 2015 will be 1.478 percent, down from 1.533 percent for 2014.
The maintenance tax supports the operations of the Division of Workers’ Compensation and the Office of Injured Employee Counsel.
The maintenance tax rate applies to insurance companies writing workers’ compensation policies in Texas, and is capped at 2 percent of gross premiums collected by those companies.
Certified self-insured and group self-insured employers also pay maintenance taxes based on the previous year’s claim liabilities and expenses.
Source: TDI
Topics Texas Workers' Compensation
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