Tex. Ins. Code § 883.207

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 883.207 - Premium Tax

Each domestic or foreign mutual insurance company organized or operating under this chapter is subject to taxes imposed by law on that company. The company shall pay the tax on the gross premiums received for direct insurance written on property or risks located in this state. The tax payable must be computed on the portion of the gross premiums remaining after deducting:

(1) premiums charged on policies not taken;

(2) premiums returned on canceled policies; and

(3) any refund or other return made to the policyholders other than for the incurrence of a loss.

Tex. Ins. Code § 883.207

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.