Iowa Admin. Code r. 191-5.40
Current through Register Vol. 47, No. 5, August 21, 2024
The fact that the companies choose to call a stipulated amount a "policy fee" and do not include it under the term of "premium" would not have the effect of exempting this income from taxation. It is most assuredly a part of the premium or income received from policyholders for business done in Iowa and thus subject to taxation.
Iowa Admin. Code r. 191-5.40