TWCC Sets Maintenance Tax on WC Policies

The Texas Workers' Compensation Commission has determined, pursuant to the authority and direction given under the Texas Workers' Compensation Act (Texas Labor Code, Section 403.003), that the maintenance tax rate be set at 1.125 percent of the gross premiums collected January 1, 2003 through December 31, 2003. This maintenance tax rate is for support of the Commission and only applies to insurance companies writing workers' compensation policies in Texas.Last year's maintenance tax rate was established at 1.51 percent of the gross premiums collected January 1, 2002 through December 31, 2002. ...