Vermont Statutes Title 32 Sec. 8551
Terms Used In Vermont Statutes Title 32 Sec. 8551
- Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 8551. Imposition, rate, and basis of tax
A domestic or foreign insurance company, association, or society, other than life, or a surety or guaranty company, doing business in this State, shall pay a tax to the State, which is hereby assessed at the rate of two percent per annum on the gross amount of premiums and assessments written on its business in this State, but not including premiums received for reinsurance. A domestic or foreign life insurance company doing business in this State shall pay a tax to the State, which is hereby assessed at the rate of two percent per annum on the gross amount of premiums and assessments collected on its business in this State, but not including premiums received for reinsurance.