Sec. 883.207. PREMIUM TAX. Each domestic or foreign mutual insurance company organized or operating under this chapter is subject to taxes imposed by law on that company. The company shall pay the tax on the gross premiums received for direct insurance written on property or risks located in this state. The tax payable must be computed on the portion of the gross premiums remaining after deducting:
(1) premiums charged on policies not taken;
(2) premiums returned on canceled policies; and
(3) any refund or other return made to the policyholders other than for the incurrence of a loss.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle E - Mutual and Fraternal Companies and Related Entities
Chapter 883 - Mutual Insurance Companies Other Than Mutual Life Insurance Companies
Subchapter E. Regulation of Company
Section 883.201. Surplus Requirements
Section 883.202. Required Deposit for Companies Writing Bonds
Section 883.204. Annual Report
Section 883.205. Examination of Foreign Mutual Insurance Company