Section 304.10-180 - Taxes on surplus linesEach broker shall pay the following taxes:
(1) A tax at the rate of three percent (3%) on the premiums, assessments, fees, charges, or other consideration deemed part of the premium as defined in KRS 304.14-030, on surplus lines insurance placed with an insured whose home state is Kentucky subject to tax transacted by him or her with unauthorized insurers during the preceding calendar quarter as shown by his or her quarterly statement filed with the commissioner in accordance with KRS 304.10-170. The tax shall not be assessed on the premium surcharge tax, the local government premium tax, or any other state or federal tax. The tax shall be remitted to the commissioner within thirty (30) days of the end of each calendar quarter. When collected the tax shall be credited to the insurance regulatory trust fund, as established by KRS 304.2-400;(2) The premium surcharge tax, to be remitted to the Kentucky Department of Revenue, in accordance with KRS 136.392; and(3) The local government premium tax, to be remitted to the appropriate city, county, or urban-county government taxing authority, in accordance with KRS 91A.080. Each broker shall be subject to the provisions of this section and KRS 91A.080 and 91A.0802 to 91A.0810 as an insurance company.Amended by 2018 Ky. Acts ch. 180,§ 5, eff. 7/14/2018.Effective:6/8/2011
Amended 2011, Ky. Acts ch. 48, sec. 4, effective6/8/2011. -- Amended 2010, Ky. Acts ch. 24, sec. 1099, effective 7/15/2010; and ch. 165, sec. 2, effective 7/15/2010. -- Amended 2008, Ky. Acts ch. 94, sec. 6, effective 7/15/2008. -- Amended 2005, Ky. Acts ch. 85, sec. 678, effective 6/20/2005. --Amended 2002, Ky. Acts ch. 273, sec. 42, effective 7/15/2002. -- Amended 2000, Ky. Acts ch. 393, sec. 45, effective 7/14/2000. -- Amended 1982 Ky. Acts ch. 123, sec. 12, effective 7/15/1982. -- Created 1970 Ky. Acts ch. 301, subtit. 10, sec. 18, effective 6/18/1970.