Re: Insurance Premium Tax Rate Change on Workers' Compensation Premiums

Effective January 1, 2002, the insurance premium assessment rate on workers' compensation premiums will increase to 9.75 percent for premiums received by all insurers writing workers' compensation insurance in this state, including premiums received from state and local government agencies.

Also effective January 1, 2002, the insurance premium assessment rate on workers' compensation premiums will increase to 9.50 percent for premiums received by a public agency insurance mutual writing workers' compensation insurance in this state. For purposes of this paragraph, a public agency insurance mutual is as defined in Sections 31A-1-301 and 31A-5-214 of the Utah Code.

The assessment rate applies to all taxable workers' compensation premiums for the 2002 calendar year. Estimated quarterly prepayments should be adjusted to reflect this rate.

Prepayment coupons for 2002 estimated quarterly prepayments are enclosed with this Tax
Bulletin

Questions:

E-Mail: taxmaster@tax.state.ut.us
Home page: tax.utah.gov
Phone: (801) 297-2200
Toll Free: 1-800-662-4335
TDD: (801) 297-2020

Changes in Utah laws or Tax Commission rules may supersede this Tax Bulletin. For the most current guidance relating to state and local taxation, including local sales tax rates, please access the Tax Commission Internet website at http://tax.utah.gov.

NOTICE: Effective January 1, 2002, paper bulletins are no longer mailed. If you wish to continue to receive Tax Bulletins, subscribe to our e-mail service as instructed above.