RCW 48.15.120
Premium tax—Surplus lines.
(1) On or before the first day of March of each year each surplus line broker must remit to the state treasurer through the commissioner a tax on the premiums, exclusive of sums collected to cover federal and state taxes and examination fees, on surplus line insurance subject to tax transacted by him or her during the preceding calendar year as shown by his or her annual statement filed with the commissioner, and at the same rate as is applicable to the premiums of authorized foreign insurers under this code. The tax when collected must be credited to the general fund.
(2) For property and casualty insurance other than industrial insurance under Title 51 RCW, when this state is the insured's home state:
(a) If the surplus line insurance covers risks or exposures located inside the United States, its territories, or both, the tax so payable must be computed upon the entire premium under subsection (1) of this section, without regard to whether the policy covers risks or exposures that are located in this state; and
(b) If the surplus line insurance covers risks or exposures located outside of the United States and its territories, no tax under subsection (1) of this section is due or payable for the premium properly allocable to the risks and exposures located outside the United States and its territories.
(3) For all other lines of insurance, if a surplus line policy covers risks or exposures only partially in this state, the tax so payable must be computed upon the proportion of the premium that is properly allocable to the risks or exposures located in this state.
[ 2015 c 132 § 2; 2011 c 31 § 8; 2009 c 549 § 7059; 1947 c 79 § .15.12; Rem. Supp. 1947 § 45.15.12.]
NOTES:
Application—2011 c 31 § 8: "Section 8 of this act applies to all surplus line insurance policies with an effective date on or after July 21, 2011." [ 2011 c 31 § 9.]
Effective date—2011 c 31: See note following RCW 48.15.010.
Structure Revised Code of Washington
Chapter 48.15 - Unauthorized Insurers.
48.15.020 - Solicitation by unauthorized insurer prohibited—Personal liability.
48.15.023 - Unauthorized activities—Acts committed in this state—Sanctions.
48.15.025 - Application of other chapters to surplus line brokers.
48.15.030 - Validity of contracts illegally effectuated.
48.15.039 - National database—Surplus line brokers.
48.15.040 - "Surplus line" coverage.
48.15.043 - Diligent effort requirement—Exempt commercial purchaser.
48.15.050 - Endorsement of contract.
48.15.060 - Validity of contracts.
48.15.070 - Surplus line brokers—Licensing—Bond—Renewal.
48.15.073 - Nonresident surplus line brokers—Licensing—Reciprocity—Service of process.
48.15.080 - Licensed surplus line broker may accept business.
48.15.085 - Liability of insurer assuming direct risk.
48.15.090 - Solvent insurer required—Rules.
48.15.100 - Record of surplus line broker.
48.15.103 - Use of business name—Place of business—Duties of surplus line broker.
48.15.110 - Broker's annual statement.
48.15.120 - Premium tax—Surplus lines.
48.15.130 - Penalty for default.
48.15.140 - Revocation, suspension, or failure to renew surplus line broker's license—Civil penalty.
48.15.142 - Suspension for failure to comply with support order.
48.15.150 - Legal process against surplus line insurer.
48.15.160 - Exemptions from surplus line requirements.
48.15.170 - Records of insureds—Inspection.
48.15.180 - Surplus line broker's fiduciary capacity—Violations.
48.15.185 - Determination of qualifications and competence by state—Unlawful use of questions.