From August 3, 1987 to September 30, 1987, an insurance company shall pay a surcharge that is the product of .7 times the insurance company's tax liability under sections 22a and 31 before applying any credit allowed under this act. For the tax year beginning October 1, 1987 and ending September 30, 1988 and each tax year thereafter, an insurance company shall pay a surcharge that is the product of 1.26 times the insurance company's tax liability under sections 22a and 31 before applying any credit allowed under this act.

History: Add. 1987, Act 262, Imd. Eff. Dec. 28, 1987

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Last modified: January 1, 2008