40-252e.Small insurance company credit againstpremium tax.For tax years 1998 and thereafter, a foreign or domesticinsurance company required to pay a tax on premiums under subsection A, C, D orF of K.S.A. 40-252 and amendments thereto and writing less than $15,000,000 inpremiums in all states shall be allowed as a small company credit against suchtax the amount computed as follows:
(a) Subtract the total dollar amount of all premiums written by the companyin all states from $15,000,000;
(b) Divide the result obtained in (a) by 15,000,000;
(c) Multiply the quotient obtained in (b) by 90,000 with the resultingcredit not to exceed $30,000. No credit under this section shall be allowedunless the company has paid salaries for which a salary credit is allowed underK.S.A. 40-252d.
Before taking into account any other credit or offset against the tax onpremiums imposed under K.S.A. 40-252 and amendments thereto, the employmentcredit allowed under K.S.A. 40-252d and amendments thereto and thesmall companycredit allowed under this section, taken together, may not reduce such tax bymore than 1% of premiums taxable under K.S.A. 40-252 and amendments thereto fortax year 1998 or by more than 1.25% of premiums taxable under K.S.A. 40-252 andamendments thereto for tax years 1999 and thereafter.For purposes of calculating any tax due under K.S.A. 40-253 and amendmentsthereto from a taxpayer not organized under the laws of this state, the creditallowed by this section shall be treated as a tax paid under K.S.A. 40-252 andamendments thereto.
40-252e.Small insurance company credit againstpremium tax.For tax years 1998 and thereafter, a foreign or domesticinsurance company required to pay a tax on premiums under subsection A, C, D orF of K.S.A. 40-252 and amendments thereto and writing less than $15,000,000 inpremiums in all states shall be allowed as a small company credit against suchtax the amount computed as follows:
(a) Subtract the total dollar amount of all premiums written by the companyin all states from $15,000,000;
(b) Divide the result obtained in (a) by 15,000,000;
(c) Multiply the quotient obtained in (b) by 90,000 with the resultingcredit not to exceed $30,000. No credit under this section shall be allowedunless the company has paid salaries for which a salary credit is allowed underK.S.A. 40-252d.
Before taking into account any other credit or offset against the tax onpremiums imposed under K.S.A. 40-252 and amendments thereto, the employmentcredit allowed under K.S.A. 40-252d and amendments thereto and thesmall companycredit allowed under this section, taken together, may not reduce such tax bymore than 1% of premiums taxable under K.S.A. 40-252 and amendments thereto fortax year 1998 or by more than 1.25% of premiums taxable under K.S.A. 40-252 andamendments thereto for tax years 1999 and thereafter.For purposes of calculating any tax due under K.S.A. 40-253 and amendmentsthereto from a taxpayer not organized under the laws of this state, the creditallowed by this section shall be treated as a tax paid under K.S.A. 40-252 andamendments thereto.
40-252e.Small insurance company credit againstpremium tax.For tax years 1998 and thereafter, a foreign or domesticinsurance company required to pay a tax on premiums under subsection A, C, D orF of K.S.A. 40-252 and amendments thereto and writing less than $15,000,000 inpremiums in all states shall be allowed as a small company credit against suchtax the amount computed as follows:
(a) Subtract the total dollar amount of all premiums written by the companyin all states from $15,000,000;
(b) Divide the result obtained in (a) by 15,000,000;
(c) Multiply the quotient obtained in (b) by 90,000 with the resultingcredit not to exceed $30,000. No credit under this section shall be allowedunless the company has paid salaries for which a salary credit is allowed underK.S.A. 40-252d.
Before taking into account any other credit or offset against the tax onpremiums imposed under K.S.A. 40-252 and amendments thereto, the employmentcredit allowed under K.S.A. 40-252d and amendments thereto and thesmall companycredit allowed under this section, taken together, may not reduce such tax bymore than 1% of premiums taxable under K.S.A. 40-252 and amendments thereto fortax year 1998 or by more than 1.25% of premiums taxable under K.S.A. 40-252 andamendments thereto for tax years 1999 and thereafter.For purposes of calculating any tax due under K.S.A. 40-253 and amendmentsthereto from a taxpayer not organized under the laws of this state, the creditallowed by this section shall be treated as a tax paid under K.S.A. 40-252 andamendments thereto.
