Blue Shield of CA has its state tax-exempt status revoked...

I guess you can't have $4.2 Billion surplus in the bank, pay your CEO $5 Million/yr. and still call yourself a non-profit.  Bummer.

California's Franchise Tax Board apparently revoked the non-profit last August and ordered the company to file State taxes for 2013 forward.  The news is just now coming out.

More information is in the LA Times article.

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Blue Shield of CA has its state tax-exempt status revoked...

Reviewed by citra
Published : 2015-03-18T12:26:00-07:00
Rating : 4.5