Insurance Tax - As of June 30, 2011
Year Started
1911
What is Taxed?
Gross premiums, ocean marine insurance underwriting profits, title insurance company income
Who Pays?
Insurance companies and surplus line brokers
Number of Registrants
2,040 and 550 respectively
Tax Rate
5.00% to ocean marine
2.35% to all others
2.35% to all others
10-11 Revenues
$1.9 billion
Revenue Change from 09-10
Up 2.6%
Fund Allocation
General Fund
Citation of the Law