Maine Revised Statutes Title 36 Sec. 2523 – Taxation of workers’ compensation insurers
Current as of: 2023 | Check for updates
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1. Tax on insurance companies. Every insurance company or association which does business or collects premiums or assessments for workers’ compensation insurance in this State shall, for the privilege of doing business in this State and in addition to any other taxes imposed for that privilege, pay a tax of 2% upon all gross direct premiums written, whether in cash or in notes absolutely payable on contracts written on risks located or resident in the State for workers’ compensation insurance, less return premiums thereon and less all dividends paid to policyholders.
The tax levied under this section is in lieu of the taxes levied under section 2513, insofar as those taxes are based on workers’ compensation insurance premiums.
[PL 1985, c. 783, §14 (RPR).]
Terms Used In Maine Revised Statutes Title 36 Sec. 2523
- Return: means any document, digital file or electronic data transmission containing information required by this Title to be reported to the State Tax Assessor. See Maine Revised Statutes Title 36 Sec. 111
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
2. Returns. Insurance companies and associations shall file a separate return under section 2521?A for the tax levied by this section.
[PL 1983, c. 479, §3 (NEW).]
3. Fund. Taxes collected under this section shall be paid forthwith by the State Tax Assessor to the General Fund.
[PL 1983, c. 479, §3 (NEW).]
SECTION HISTORY
PL 1983, c. 479, §3 (NEW). PL 1985, c. 783, §14 (AMD).