Georgia Code
Chapter 8 - Fees and Taxes
§ 33-8-4. Amount and Method of Computing Tax on Insurance Premiums Generally; Exclusion of Annuity Considerations

History. Code 1933, § 56-1303, enacted by Ga. L. 1960, p. 289, § 1; Code 1933, § 56-1312, enacted by Ga. L. 1973, p. 499, § 4; Ga. L. 1976, p. 1080, § 2; Ga. L. 1979, p. 850, § 2; Ga. L. 2008, p. 292, § 1/HB 977; Ga. L. 2009, p. 652, § 1/HB 410; Ga. L. 2019, p. 337 § 1-40/SB 132.
The 2019 amendment, effective July 1, 2019, in subsection (a), deleted “on and after July 1, 1955” at the end of the first sentence and inserted “that” following “provided, however,” in the middle of the third sentence.
Editor’s notes.
Ga. L. 1979, p. 850, § 2, amended this section so as to exempt annuity considerations from taxation, such amounts being more akin to deposits in savings accounts than insurance premiums. In order to minimize the adverse effects of such exemption on revenues received from the taxation of insurance premiums, subsection (2) of Ga. L. 1979, p. 850, § 2, provides for a gradual elimination over a three-year period of the tax on annuity considerations, such reductions to commence in the calendar year commencing on January 1, 1980.
Ga. L. 2008, p. 292, § 6(a)/HB 977, not codified by the General Assembly, provides in part that the 2008 amendment is applicable to all taxable years beginning on or after January 1, 2009.
Ga. L. 2009, p. 652, § 6(a)/HB 410, not codified by the General Assembly, provides, in part, that the amendment to this Code section “shall be applicable to all taxable years beginning on or after January 1, 2009”.
Law reviews.
For article surveying recent legislative and judicial developments regarding Georgia’s insurance laws, see 31 Mercer L. Rev. 117 (1979).
For article, “Why Captives, Lord, What Have They Ever Done?: The Georgia Captive Insurance Company Act,” see 26 Ga. St. B. J. 119 (1990).
For article, “Revenue and Taxation: Amend Titles 48, 2, 28, 33, 36, 46, and 50 of the Official Code of Georgia Annotated, Relating Respectively to Revenue and Taxation, Agriculture, the General Assembly, Insurance, Local Government, Public Utilities, and State Government,” see 28 Ga. St. U. L. Rev. 217 (2011).

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