Insurance Tax
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
2,019 and 533 respectively as of June 30, 2010
Tax Rate
5.00% to ocean marine
2.35% to all others
2.35% to all others
09-10 Revenues
$1.9 billion
Revenue Change from 08-09
Down 2.7%
Fund Allocation
General Fund
Citation of the Law