Conference proceeding
INSURANCE PREMIUM TAXES
Proceedings. Annual Conference on Taxation and Minutes of the Annual Meeting of the National Tax Association, p.34
2007
Abstract
While not the most visible of taxes, the state insurance premium tax is levied on insurance companies by every state, generally as a substitute for the state corporate income tax being imposed on insurance companies. Recently, policy makers in several states have discussed reducing or eliminating their state's premium tax as an effort to induce insurance companies to locate offices and headquarters in the state. This is seen as a desirable job creation strategy since jobs in this industry are relatively high wage and environmentally clean. The regulation and taxation of the insurance industry has been left almost entirely to the states. Finally, states may require companies to pay into a guaranty fund designed to cover the claims of insolvent insurance companies. While some states offer a credit against the premium tax for amounts paid into the fund, not all do, nor do all the others provide a 100% credit.
Details
- Title: Subtitle
- INSURANCE PREMIUM TAXES
- Creators
- Martin GraceDavid SjoquistLaura Wheeler
- Resource Type
- Conference proceeding
- Publication Details
- Proceedings. Annual Conference on Taxation and Minutes of the Annual Meeting of the National Tax Association, p.34
- Publisher
- National Tax Association
- ISSN
- 1549-7542
- eISSN
- 2377-567X
- Language
- English
- Date published
- 2007
- Academic Unit
- Finance
- Record Identifier
- 9984701252702771
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