| Issue Date: | |
|---|---|
| Revised Date: | 2015-07-23 |
Legal Cites
- Insurance Code sec. 255.002
Object Type
Cash — Insurance
Origin Date
1937 by the 45th Leg.
Description
Annual tax not to exceed 0.6% of correctly reported gross premiums from issue of Workers' Compensation Insurance. Used by the Department of Insurance for activities related to regulating insurance companies that provide workers' compensation insurance.
Due Date
As determined by the Comptroller. May be collected on annual or semi-annual basis if liability for previous tax year was $2,000 or more.
Collecting Agencies
- 902 – Comptroller - State Fiscal (formerly Texas Department of Insurance, Agency 454)
Deposit Funds
- 0001 – General Revenue Fund
The first $3.05 million in total maintenance taxes per fiscal year is allocated to the Floodplain Management Fund 0330 and the remainder to GR Account 0036 - Texas Department of Insurance Operating.
Note
Collection amended by H.B. 1554, 68th Leg., R.S.
S.B. 928, 68th Leg., R.S. changed deposit from Compensation Insurance Division Fund 0014 to General Revenue.
Amended by H.B. 1461, 73rd Leg., R.S.
Legal cite codified by H.B. 2922, 78th Leg. R.S.
H.B. 6, 84th Leg., R.S. re-created allocation to the Floodplain Management Fund 0330.
USAS Values
| Appropriation Year | 16 |
|---|---|
| USAS Title | INSURANCE MAINTENANCE TAXES |
| Receipt Category | 04 – Insurance |
| Receipt Type | 01 – Taxes |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 14 – INSURANCE TAXES |