A state-created insurance company has built a competitive advantage by enjoying a best-of-both-worlds scenario avoiding federal income taxes by claiming to be a public corporation yet generally operating as a private entity and shelling out big bucks for executive perks, according to a report Monday by the Missouri auditor.
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{
"author": {
"name": "David E Lieb Associated Press",
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"articles": [
{
"uri": "/2012/02/28/missouri-audit-criticizes-state-created-insurance/",
"title": "Missouri Audit Criticizes State-Created Insurance Firm",
"byline": " David E. Lieb, Associated Press ",
"kicker": "News",
"prettyDate": "February 28, 2012",
"timeToRead": "4 minute",
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"summary": "A state-created insurance company has built a competitive advantage by enjoying a best-of-both-worlds scenario avoiding federal income taxes by claiming to be a public corporation yet generally operating as a private entity and shelling out big bucks for executive perks, according to a report Monday by the Missouri auditor.",
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