Utah State Fund May Retain Tax Exempt Status if Private

Legislative leaders in Utah were told last Friday that the Internal Revenue Service has given verbal assurrance that Workers Compensation Fund will retain its federal tax exemption if privatized, assuming certain conditions.A significant aspect of the privatization discussions concerning the Fund, that were initiated two years ago by Senator Bramble (R-Provo), was it's tax status. This is also of concern to competing private carriers, who are crying foul about the state's plans because if the Fund is able to retain its tax-exempt status it will have an unfair advantage. The tentative rulin...