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MO Lowers Tax on Workers Comp. Premiums

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Missouri Gov. Bob Holden (KWMU photo)

By Bill Raack, KWMU

St. Louis, MO – Missouri businesses could save more than $12 million next year, as a result of a tax cut announced Wednesday by Governor Bob Holden.

The administrative tax on workers compensation insurance premiums paid by employers in the state will drop by 50% in 2004, from 2% to 1%. Holden says the cut is largely the result of reorganizations in the Division of Workers' Compensation.

"We continuously look for ways to streamline government, make it more efficient, make it more productive and this is just one more example of that effort," the governor said.

Holden says it is the first administrative tax cut during his term as Governor.

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