Texas Insurance Code 226.054 – Tax Payment by Certain Insureds
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(a) Except as provided by § 226.055, the tax imposed by this subchapter is due and payable not later than:
(1) May 15 after the end of the calendar year in which the insurance was procured, continued, or renewed; or
(2) another date prescribed by the comptroller.
(b) An insured who fails to withhold from the premium the amount of tax imposed by this subchapter is liable for the amount of the tax and shall pay the tax due.
Terms Used In Texas Insurance Code 226.054
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The insured shall file a tax report and pay the tax.
(d) The insured may designate another person to file the report and pay the tax.