State Hikes Insurance Tax: The state Board...
From Times Staff and Wire Reports
State Hikes Insurance Tax: The state Board of Equalization increased California’s insurance tax to offset the impact of Proposition 103. The board increased the tax, which is paid by insurance companies on the premiums they collected last year, to 2.37% from 2.35%. The tax increase is expected to bring the state an extra $9 million.
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