(a) In addition to the premium taxes levied by § 56-4-205, all companies writing fire insurance and lines of business having fire coverages as a part of the risk rate shall pay three fourths of one percent (0.75%) on that portion of the premium applicable to the fire risk for the purpose of executing the fire marshal law.
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(b) For the purpose of subsection (a), the following portions of the amounts required to be reported by line of business in the annual statement required by § 56-1-501 shall be considered premiums for insurance covering the peril of fire:
(1) Fire lines, one hundred percent (100%);(2) Farmowners and homeowners multiple peril, fifty-five percent (55%);(3) Commercial multiple peril, fifty percent (50%);(4) Inland marine, twenty percent (20%);(5) Automobile physical damage, eight percent (8%); and(6) Aircraft physical damage, eight percent (8%).(c) This tax shall be paid at the same time and in the same manner as the tax levied upon insurance companies by § 56-4-205.
