Texas Insurance Code 222.003 – Tax Rates
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(a) Except as provided by Subsection (b), the rate of the tax imposed by this chapter on an insurer is 1.75 percent of the insurer’s taxable gross premiums received during a calendar year.
(b) The rate of the tax imposed by this chapter on an insurer that receives taxable gross premiums from the business of life insurance is:
(1) 0.875 percent of the first $450,000 of taxable gross premiums received during a calendar year from the business of life insurance; and
(2) 1.75 percent of the remaining taxable gross premiums received during that calendar year from the business of life insurance.
Terms Used In Texas Insurance Code 222.003
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The rate of the tax imposed by this chapter on a health maintenance organization is:
(1) 0.875 percent of the first $450,000 of taxable gross revenues received during a calendar year for the issuance of health maintenance certificates or contracts; and
(2) 1.75 percent of the remaining taxable gross revenues received during that calendar year for the issuance of health maintenance certificates or contracts.