Current through Register Vol. 54, No. 45, November 9, 2024
Section 162.1 - Retaliatory charge imposed on insurance companies(a) A taxpayer domiciled outside of this Commonwealth and subject to the Insurance Premiums Tax imposed by Article IX of the TRC (72 P. S. §§ 7901-7906) or the Marine Insurance Tax (72 P. S. §§ 2281-2284) shall report to the Department taxes, licenses or fees which an insurance company domiciled in this Commonwealth would be required to pay to the taxpayer's state of domicile or political subdivisions thereof if the Commonwealth company conducted the same volume and kind of business in the taxpayer's state of domicile which the taxpayer conducts in this Commonwealth.(b) For each tax, license or fee, taxpayer shall include a description of the tax, license or fee, the percentage rate or amount, and items used in the determination of the base to which the rate or amount is applicable. The taxpayer shall include with its Pennsylvania Insurance Premiums or Marine Insurance Tax report, or as soon thereafter as possible, a copy of every tax report filed by the taxpayer with its domiciliary state or political subdivisions thereof. Reports which are not included in the Pennsylvania Insurance Premiums Tax report shall be forwarded to the Speciality Tax Division, Department of Revenue, Strawberry Square, Harrisburg, Pennsylvania 17127.