Texas Insurance Code 225.009 – Prepayment of Tax
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(a) A surplus lines agent shall prepay the tax imposed by this chapter when the amount of the accrued taxes due is equal to at least $70,000.
(b) A surplus lines agent shall prepay the taxes using a form prescribed by the comptroller. The prepayment is due on or before the 15th day of the month following the month in which the amount of taxes described by this section accrues.
Terms Used In Texas Insurance Code 225.009
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Month: means a calendar month. See Texas Government Code 312.011
- Rule: includes regulation. See Texas Government Code 311.005
(c) The comptroller by rule may change the accrued tax amount for which prepayment is required under Subsection (a) and the prepayment deadline under Subsection (b).
(d) Notwithstanding Subsections (a), (b), and (c), if this state enters a cooperative agreement, reciprocal agreement, or compact with another state for the allocation of surplus lines tax as authorized by Chapter 229, the tax shall be allocated and reported in accordance with the terms of the agreement or compact.