31A-28-212 - Credits for assessments paid. - Utah Statutes

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Statutes > Utah > Title-31a > Chapter-28 > 31a-28-212

31A-28-212. Credits for assessments paid.
(1) A member insurer may offset against its premium tax liability to this state anassessment described in Section 31A-28-208, but only up to 20% of the amount of the assessmentfor each of the five calendar years following the year in which the assessment was paid. If amember insurer ceases doing business, all uncredited assessments may be credited against itspremium tax liabilities for the year it ceases doing business.
(2) Any sums acquired by a member insurer as a refund from the association whichpreviously had been offset against premium taxes as provided in Subsection (1) shall be paidimmediately by the member insurer to the State Tax Commission.

Amended by Chapter 204, 1986 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-28 > 31a-28-212

31A-28-212. Credits for assessments paid.
(1) A member insurer may offset against its premium tax liability to this state anassessment described in Section 31A-28-208, but only up to 20% of the amount of the assessmentfor each of the five calendar years following the year in which the assessment was paid. If amember insurer ceases doing business, all uncredited assessments may be credited against itspremium tax liabilities for the year it ceases doing business.
(2) Any sums acquired by a member insurer as a refund from the association whichpreviously had been offset against premium taxes as provided in Subsection (1) shall be paidimmediately by the member insurer to the State Tax Commission.

Amended by Chapter 204, 1986 General Session

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-28 > 31a-28-212

31A-28-212. Credits for assessments paid.
(1) A member insurer may offset against its premium tax liability to this state anassessment described in Section 31A-28-208, but only up to 20% of the amount of the assessmentfor each of the five calendar years following the year in which the assessment was paid. If amember insurer ceases doing business, all uncredited assessments may be credited against itspremium tax liabilities for the year it ceases doing business.
(2) Any sums acquired by a member insurer as a refund from the association whichpreviously had been offset against premium taxes as provided in Subsection (1) shall be paidimmediately by the member insurer to the State Tax Commission.

Amended by Chapter 204, 1986 General Session