Texas Comptroller of Public Accounts
| Legal Citations: |
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| Revenue Type: Cash — Insurance |
| Origin Date: 1987 by the 70th Leg., R.S. |
| Issue Date: 1988-01-01 |
| Revised Date: 2023-04-20 |
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.
This is an occupations tax and therefore subject to Texas Constitution, art. VII, sec. 3 where one-fourth of its revenue is allocated for the benefit of the public free schools.
Annually.
Allocated 25% to Foundation School Account (No. 0193) and 75% to General Revenue Fund (No. 0001) to fund statutory allocations.
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.
| Appropriation Year | 26 |
|---|---|
| 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 |