Texas Insurance Code - Not Codified - Article 4.65. Premium Tax Credit
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Art. 4.65. PREMIUM TAX CREDIT. (a) A certified investor who
makes an investment of certified capital shall in the year of
investment earn a vested credit against state premium tax liability
equal to 100 percent of the certified investor's investment of
certified capital, subject to the limits imposed by this
subchapter. Beginning with the tax report due March 1, 2009, for
the 2008 tax year, a certified investor may take up to 25 percent of
the vested premium tax credit in any taxable year of the certified
investor. The credit may not be applied to estimated payments due
in 2008.
(b) The credit to be applied against state premium tax
liability in any one year may not exceed the state premium tax
liability of the certified investor for the taxable year. Any
unused credit against state premium tax liability may be carried
forward indefinitely until the premium tax credits are used.
(c) A certified investor claiming a credit against state
premium tax liability earned through an investment in a company is
not required to pay any additional retaliatory tax levied under
Article 21.46 of this code as a result of claiming that credit. An
investment made under this subchapter is a "Texas investment" for
purposes of Subchapter A of this chapter.
Added by Acts 2001, 77th Leg., ch. 437, Sec. 1, eff. May 28, 2001.
Subsec. (a) amended by Acts 2003, 78th Leg., ch. 1310, Sec. 71, eff.
June 20, 2003.
Article: 4.58 4.59 4.60 4.61 4.62 4.63 4.64 4.65 4.66 4.67 4.68 4.69 4.70 4.71 4.72
Last modified: August 11, 2007
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