| Issue Date: | 1988-01-01 |
|---|---|
| Revised Date: | 2023-04-20 |
Legal Citations
- Insurance Code sec. 223.003
Object Type
Cash — Insurance
Origin Date
1987 by the 70th Leg., R.S.
Description
There is imposed on all title insurance companies an annual tax equal to 1.35% of premiums. In addition, amounts deducted for premium tax credits are to be remitted to the state.
Due Date
Annually.
Collecting Agencies
Deposit Funds
- 0001 – General Revenue Fund
Allocated 25% to Foundation School Account (No. 0193) and 75% to General Revenue Fund (No. 0001) to fund statutory allocations.
Note
Collection changed from Department of Insurance (454) to Comptroller by H.B. 1461, 73rd Leg., R.S.
Rate amended by H.B. 1837, 76th Leg., R.S.
Legal cite codified by H.B. 2922, 78th Leg., R.S.
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | INSURANCE PREMIUM TAXES |
| Receipt Category | 04 – Insurance |
| Receipt Type | 01 – Taxes |
| Object Group | 30 – Revenues |
| USAS Status | A |
| Rev/Exp Category | 14 – INSURANCE TAXES |