Georgia Code
Chapter 8 - Fees and Taxes
§ 33-8-5. Abatement or Reduction of Tax on Insurance Premiums

Whenever any insurance company doing business in this state shall make it appear to the Commissioner, by evidence satisfactory to him, that one-fourth of its total assets, as of December 31 of any taxable year, exclusive of direct obligations of the United States, consists of or is invested in any or all of the following classes of property:
then the gross premium tax levied by Code Section 33-8-4 shall be abated or reduced to 1 1/4 percent upon the gross premium of any company subject to taxation by said Code section and, if the amount so invested by any company shall be as much as three-fourths of its total assets, exclusive of direct obligations of the United States, then the said premium tax shall be abated or reduced to one-half of 1 percent upon the gross premiums of the company subject to taxation by said Code section.
History. Code 1933, § 56-1305, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 3, § 33.
Law reviews.
For article, “Why Captives, Lord, What Have They Ever Done?: The Georgia Captive Insurance Company Act,” see 26 Ga. St. B. J. 119 (1990).

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