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Blue Shield fighting the removal of tax-exempt status by FTB
Daily Republic

Blue Shield of California is protesting a state decision to strip the nonprofit health insurer of its tax-exempt status, which the company has held since its founding in 1939.

The California Franchise Tax Board quietly revoked the tax break last August, the Los Angeles Times reported Wednesday.

The decision could put San Francisco-based Blue Shield on the hook for tens of millions of dollars in state taxes each year. The insurer has paid federal taxes for years.