Virginia Governor Signs Law Exempting Surplus Lines Brokers From Annual, License Taxes

March 27, 2025, 3:31 PM UTC

The Virginia Governor signed a law amending the code provisions to exempt surplus line brokers from annual taxes, license taxes, and penalties on policies procured for specific commuter rail systems, effective for 2025 and subsequent years. The law takes effect July 1 and is identical to HB 1682. [S.B. 1269, enacted 03/19/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.

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