Sec. 47. The annual tax shall be an amount equal to three-fourths of one percent (0.75%) of the total worker's compensation benefits paid in this state by the insurance carrier and self-insured employers as provided in section 46 of this chapter during the preceding calendar year, excluding medical payments. The tax shall constitute an element of loss for the purpose of establishing worker's compensation insurance rates.
Formerly: Acts 1971, P.L.356, SEC.1. As amended by P.L.144-1986, SEC.177; P.L.28-1988, SEC.71.