Laws, Regulations and Annotations


Business Taxes Law Guide—Revision 2024

Tax on Insurers Annotations

Retaliatory Tax—Basis for Calculation

It is appropriate to utilize whatever tax method or tax rate is applied (i.e., tax imposed) to an out-of-state insurer in its state of domicile as the basis for calculating the retaliatory tax in this state. Where the formula for calculating the tax by an out-of-state insurer's state of domicile is the lesser of two alternatives, the tax imposed is the minimum amount regardless of whether the taxpayer calculated and paid the maximum amount. 4/12/95. (Am. 2003–3).