Section 12-210 - Tax on net direct premiums of nonresident and foreign companies(a) Each newly licensed insurance company incorporated by or organized under the laws of any other state or foreign government shall pay to the Commissioner of Revenue Services, not later than ninety days after the effective date of such company's initial license to transact business in this state, a tax on the net direct premiums received by such company in the next five preceding calendar years from policies written on property or risks located or resident in this state, except ocean marine insurance, at the rate in effect for each such calendar year.(b) Each insurance company incorporated by or organized under the laws of any other state or foreign government and doing business in this state shall, annually, on and after January 1, 1995, pay to said commissioner, in addition to any other taxes imposed on such company or its agents, a tax on all net direct premiums received by such company in the calendar year next preceding from policies written on property or risks located or resident in this state, excluding premiums for ocean marine insurance, and, upon ceasing to transact new business in this state, shall continue to pay a tax upon the renewal premiums derived from its business remaining in force in this state at the rate that was applicable when such company ceased to transact new business in this state. The rate of tax on all net direct premiums received (1) prior to January 1, 2018, shall be one and three-quarters per cent, and (2) on or after January 1, 2018, shall be one and one-half per cent.Conn. Gen. Stat. § 12-210
(1949 Rev., S. 1892; 1967, P.A. 486, S. 1; 1972, P.A. 285, S. 11; P.A. 73-350, S. 4, 27; P.A. 76-196, S. 1, 2; P.A. 77-614, S. 163, 587, 610; P.A. 78-303, S. 85, 136; P.A. 79-320, S. 2; May Sp. Sess. P.A. 94-4 , S. 6 , 85 ; P.A. 95-160 , S. 64 , 69 ; June Sp. Sess. P.A. 17-2 , S. 624 .)
Amended by P.A. 24-0151,S. 68 of the Connecticut Acts of the 2024 Regular Session, eff. 6/6/2024.Amended by P.A. 17-0002, S. 624 of the Connecticut Acts of the 2017 Special Session, eff. 10/31/2017. Cited. 208 C. 505 ; 233 C. 243 . Cited. 16 CS 133 .