Texas Insurance Code - Not Codified - Article 4.01. Tax Other Than Premium Tax
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Art. 4.01. TAX OTHER THAN PREMIUM TAX. All insurance
companies incorporated under the laws of this state shall hereafter
be required to render for county and municipal taxation all of their
real estate and all furniture, fixtures, automobiles, equipment,
and data processing systems, as other such real estate and tangible
personal property is rendered in the city and county where such
property is located.
All other personal property owned by such insurance
companies, except fire insurance companies and casualty insurance
companies, shall be valued as other such property is valued for
assessment by the taxing authority in the following manner:
From the total valuation of the entire assets of each
insurance company shall be deducted:
(a) All the debts of every kind and character owed by such
insurance company;
(b) All intangible personal property owned by such
insurance company;
(c) All reserves, being the amount of the debts of such
insurance company by reason of its outstanding policies in gross.
From the remainder shall be deducted the assessed value of
all real estate and the assessed value of all furniture, fixtures,
automobiles, equipment, and data-processing systems, rendered for
taxation, and the remainder, if any there be, shall be taxable as
personal property by the city and county where the principal
business office of any such company is fixed by its charter.
All other personal property of fire insurance companies and
casualty insurance companies incorporated under the laws of this
state shall be valued as other such property is valued for
assessment by the taxing authority in the following manner:
From the total valuation of the entire assets of each
insurance company shall be deducted:
(a) All the debts of every kind and character owed by such
insurance company;
(b) All intangible personal property owned by such
insurance company;
(c) All reserves, which reserves shall be computed in such
manner as may be prescribed by the rules and regulations of the
State Board of Insurance, for unearned premiums and for all bona
fide outstanding losses.
From the remainder shall be deducted the assessed value of
all real estate and the assessed value of all furniture, fixtures,
automobiles, equipment, and data-processing systems, rendered for
taxation, and the remainder, if any there be, shall be taxable as
personal property by the city and county where the principal
business office of any company is fixed by its charter.
Acts 1951, 52nd Leg., p. 868, ch. 491. Amended by Acts 1957, 55th
Leg., p. 812, ch. 344, Sec. 3; Acts 1969, 61st Leg., p. 2470, ch.
831, Sec. 1, eff. Jan. 1, 1970.
Amended by Acts 2001, 77th Leg., ch. 763, Sec. 1, eff. Sept. 1,
2001.
Article: 3.51-1 3.51-2 3.51-4 3.51-5 3.51-7 3.56 3.70-3D 4.01 4.11A 4.51 4.52 4.53 4.54 4.55 4.56
Last modified: August 11, 2007
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