The Texas Comptroller of Public Accounts July 20 issued frequently asked questions (FAQs) about insurance premium excise taxes. The publication includes information on: 1) credits available to licensed companies against their insurance premium taxes and their authority to transfer guaranty association assessment credits to other companies; 2) licensed captive insurance companies’ insurance premium and maintenance tax reporting responsibilities; 3) methods to file and pay surplus lines taxes and policies exempt from the surplus lines tax; 4) types of insurance subject to the 4.85 percent independently procured insurance tax; and 5) the unauthorized insurance premium tax and its filing and payment ...
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