Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2015

Tax on Insurers Annotations

Retaliatory Tax—Basis for Calculation

It is appropriate to utilize whatever tax method or tax rate is applied (i.e., tax imposed) to an out-of-state insurer in its state of domicile as the basis for calculating the retaliatory tax in this state. Where the formula for calculating the tax by an out-of-state insurer's state of domicile is the lesser of two alternatives, the tax imposed is the minimum amount regardless of whether the taxpayer calculated and paid the maximum amount. 4/12/95. (Am. 2003–3).