Delaware Code Title 18 Sec. 703 – Privilege tax on certain domestic insurers
(a) Except as provided in subsection (e) of this section, a domestic insurer, other than a mutual insurer doing business on the assessment premium plan, shall pay to the Commissioner for the use of the State an annual privilege tax in the amount determined in accordance with subsections (b) and (c) of this section, due and payable at the same time as the premium tax and estimated payments as provided in § 702 of this title. The payment of such privilege tax shall accompany a form as designated and furnished by the Commissioner, together with such information required thereon relating to the provisions of this section.
Terms Used In Delaware Code Title 18 Sec. 703
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) (1) For purposes of subsection (a) of this section, the privilege tax with respect to each year shall be an amount determined in accordance with the following table, less any credits provided in subsection (c) of this section:
| If annual gross receipts are: | The annual privilege tax shall be: |
| Under $1,000,000 | Exempt |
| $1,000,000 to $5,000,000 | $10,000 |
| $5,000,001 to $10,000,000 | $25,000 |
| $10,000,001 to $20,000,000 | $45,000 |
| $20,000,001 to $30,000,000 | $65,000 |
| $30,000,001 to $40,000,000 | $85,000 |
| over $40,000,000 | $95,000 |