§ 38.2-4809. Licensees to pay assessments and license taxes on insurers.
A. 1. Every licensed surplus lines broker or any person required to belicensed as a surplus lines broker shall be subject to the annual assessment,penalties, and other provisions of §§ 38.2-400 and 38.2-403 and shall also besubject to the annual taxes, license taxes, penalties, and other provisionsof Article 1 (§ 58.1-2500 et seq.) of Chapter 25 of Title 58.1 on each policyof insurance procured by him during the preceding calendar year with aninsurer not licensed to transact insurance business in this Commonwealth.
2. If any person overestimates and overpays the assessment or annual taxes,the Commission shall order a refund of the amount of the overpayment to theperson. The overpayment shall be refunded out of the state treasury on theorder of the Commission upon the Comptroller.
B. Each licensed surplus lines broker or any person required to be licensedas a surplus lines broker whose annual premium tax liability can reasonablybe expected to exceed $1,500 shall file a quarterly tax report with theCommission. Such report shall be in a form prescribed by the Commission. Thisreport shall be filed no later than thirty calendar days after the end ofeach calendar quarter. Notwithstanding any provision to the contrary, eachsuch person shall pay the premium tax owed for the direct gross premiumsadjusted for additional and returned premiums shown by each quarterly taxreport when such report is filed with the Commission.
C. In addition to other penalties provided by law, any licensed surplus linesbroker or any person required to be licensed as a surplus lines broker whowillfully fails or refuses to pay the full amount of the tax or assessmentrequired by this chapter, either by himself or through his agents oremployees, or who makes a false or fraudulent return with intent to evade thetax or assessment hereby levied, or who makes a false or fraudulent claim forrefund shall be guilty of a Class 1 misdemeanor.
D. If any licensed surplus lines broker or any person required to be licensedas a surplus lines broker charges and collects from the insured the taxes andassessments required by this section, such person shall be a fiduciary tothis Commonwealth for any taxes and assessments owed to this Commonwealthunder this chapter.
(Code 1950, § 38.1-314.9; 1960, c. 503; 1979, c. 513, § 38.1-327.54; 1986, c.562; 1987, c. 519; 1988, c. 153; 2001, c. 706.)
§ 38.2-4809. Licensees to pay assessments and license taxes on insurers.
A. 1. Every licensed surplus lines broker or any person required to belicensed as a surplus lines broker shall be subject to the annual assessment,penalties, and other provisions of §§ 38.2-400 and 38.2-403 and shall also besubject to the annual taxes, license taxes, penalties, and other provisionsof Article 1 (§ 58.1-2500 et seq.) of Chapter 25 of Title 58.1 on each policyof insurance procured by him during the preceding calendar year with aninsurer not licensed to transact insurance business in this Commonwealth.
2. If any person overestimates and overpays the assessment or annual taxes,the Commission shall order a refund of the amount of the overpayment to theperson. The overpayment shall be refunded out of the state treasury on theorder of the Commission upon the Comptroller.
B. Each licensed surplus lines broker or any person required to be licensedas a surplus lines broker whose annual premium tax liability can reasonablybe expected to exceed $1,500 shall file a quarterly tax report with theCommission. Such report shall be in a form prescribed by the Commission. Thisreport shall be filed no later than thirty calendar days after the end ofeach calendar quarter. Notwithstanding any provision to the contrary, eachsuch person shall pay the premium tax owed for the direct gross premiumsadjusted for additional and returned premiums shown by each quarterly taxreport when such report is filed with the Commission.
C. In addition to other penalties provided by law, any licensed surplus linesbroker or any person required to be licensed as a surplus lines broker whowillfully fails or refuses to pay the full amount of the tax or assessmentrequired by this chapter, either by himself or through his agents oremployees, or who makes a false or fraudulent return with intent to evade thetax or assessment hereby levied, or who makes a false or fraudulent claim forrefund shall be guilty of a Class 1 misdemeanor.
D. If any licensed surplus lines broker or any person required to be licensedas a surplus lines broker charges and collects from the insured the taxes andassessments required by this section, such person shall be a fiduciary tothis Commonwealth for any taxes and assessments owed to this Commonwealthunder this chapter.
(Code 1950, § 38.1-314.9; 1960, c. 503; 1979, c. 513, § 38.1-327.54; 1986, c.562; 1987, c. 519; 1988, c. 153; 2001, c. 706.)
§ 38.2-4809. Licensees to pay assessments and license taxes on insurers.
A. 1. Every licensed surplus lines broker or any person required to belicensed as a surplus lines broker shall be subject to the annual assessment,penalties, and other provisions of §§ 38.2-400 and 38.2-403 and shall also besubject to the annual taxes, license taxes, penalties, and other provisionsof Article 1 (§ 58.1-2500 et seq.) of Chapter 25 of Title 58.1 on each policyof insurance procured by him during the preceding calendar year with aninsurer not licensed to transact insurance business in this Commonwealth.
2. If any person overestimates and overpays the assessment or annual taxes,the Commission shall order a refund of the amount of the overpayment to theperson. The overpayment shall be refunded out of the state treasury on theorder of the Commission upon the Comptroller.
B. Each licensed surplus lines broker or any person required to be licensedas a surplus lines broker whose annual premium tax liability can reasonablybe expected to exceed $1,500 shall file a quarterly tax report with theCommission. Such report shall be in a form prescribed by the Commission. Thisreport shall be filed no later than thirty calendar days after the end ofeach calendar quarter. Notwithstanding any provision to the contrary, eachsuch person shall pay the premium tax owed for the direct gross premiumsadjusted for additional and returned premiums shown by each quarterly taxreport when such report is filed with the Commission.
C. In addition to other penalties provided by law, any licensed surplus linesbroker or any person required to be licensed as a surplus lines broker whowillfully fails or refuses to pay the full amount of the tax or assessmentrequired by this chapter, either by himself or through his agents oremployees, or who makes a false or fraudulent return with intent to evade thetax or assessment hereby levied, or who makes a false or fraudulent claim forrefund shall be guilty of a Class 1 misdemeanor.
D. If any licensed surplus lines broker or any person required to be licensedas a surplus lines broker charges and collects from the insured the taxes andassessments required by this section, such person shall be a fiduciary tothis Commonwealth for any taxes and assessments owed to this Commonwealthunder this chapter.
(Code 1950, § 38.1-314.9; 1960, c. 503; 1979, c. 513, § 38.1-327.54; 1986, c.562; 1987, c. 519; 1988, c. 153; 2001, c. 706.)
