31A-15-210 - Purchasing group taxation. - Utah Statutes

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Statutes > Utah > Title-31a > Chapter-15 > 31a-15-210

31A-15-210. Purchasing group taxation.
Premium taxes and taxes on premiums paid for coverage of risks resident or located inthis state by a purchasing group or any members of the purchasing groups are imposed and mustbe paid as follows:
(1) If the insurer is an admitted insurer, taxes are imposed on the insurer at the same rateand in the same manner and subject to the same procedures, interest, and penalties that apply topremium taxes and other taxes imposed on other admitted liability insurers relative to coverageof risks resident or located in this state.
(2) If the insurer is an approved, nonadmitted surplus lines insurer, taxes are imposed onthe licensed producer who effected coverage on risks resident or located in this state at the samerate and in the same manner and subject to the same procedures, interest, and penalties that applyto taxes imposed on other licensed producers effecting coverage with approved, nonadmittedsurplus lines insurers on risks resident or located in this state.

Amended by Chapter 298, 2003 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-15 > 31a-15-210

31A-15-210. Purchasing group taxation.
Premium taxes and taxes on premiums paid for coverage of risks resident or located inthis state by a purchasing group or any members of the purchasing groups are imposed and mustbe paid as follows:
(1) If the insurer is an admitted insurer, taxes are imposed on the insurer at the same rateand in the same manner and subject to the same procedures, interest, and penalties that apply topremium taxes and other taxes imposed on other admitted liability insurers relative to coverageof risks resident or located in this state.
(2) If the insurer is an approved, nonadmitted surplus lines insurer, taxes are imposed onthe licensed producer who effected coverage on risks resident or located in this state at the samerate and in the same manner and subject to the same procedures, interest, and penalties that applyto taxes imposed on other licensed producers effecting coverage with approved, nonadmittedsurplus lines insurers on risks resident or located in this state.

Amended by Chapter 298, 2003 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-15 > 31a-15-210

31A-15-210. Purchasing group taxation.
Premium taxes and taxes on premiums paid for coverage of risks resident or located inthis state by a purchasing group or any members of the purchasing groups are imposed and mustbe paid as follows:
(1) If the insurer is an admitted insurer, taxes are imposed on the insurer at the same rateand in the same manner and subject to the same procedures, interest, and penalties that apply topremium taxes and other taxes imposed on other admitted liability insurers relative to coverageof risks resident or located in this state.
(2) If the insurer is an approved, nonadmitted surplus lines insurer, taxes are imposed onthe licensed producer who effected coverage on risks resident or located in this state at the samerate and in the same manner and subject to the same procedures, interest, and penalties that applyto taxes imposed on other licensed producers effecting coverage with approved, nonadmittedsurplus lines insurers on risks resident or located in this state.

Amended by Chapter 298, 2003 General Session