Idaho Companies Could Get Break on Workers’ Comp Taxes

March 10, 2011

Idaho companies could receive a $3.2 million break on taxes they pay on their workers’ compensation premiums over the next two years.

The State Industrial Commission has about $17 million in the fund it uses to administer the state’s workers’ compensation laws.

But an audit determined that the agency didn’t need to keep so much cash on hand.

So Rep. Dennis Lake of Blackfoot aims to reduce the taxes that companies pay on their workers’ compensation premiums in fiscal years 2012 and 2013.

Lake says he’d rather return the money to employers than use it to prop up Idaho’s general fund, which is beset by shortfalls.

Lawmakers on the Legislature’s Joint Finance Appropriations Committee is still eying the Industrial Commission money to help fill holes in Idaho’s 2012 spending plan.

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