Texas Insurance Code - Section 221.003. Tax Due Dates
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§ 221.003. TAX DUE DATES. (a) The total tax imposed by
this chapter is due and payable not later than March 1 after the end
of the calendar year for which the tax is due.
(b) An insurer that had a net tax liability for the previous
calendar year of more than $1,000 shall make semiannual prepayments
of tax on March 1 and August 1. The tax paid on each date must be
equal to 50 percent of the total amount of tax the insurer paid
under this chapter for the previous calendar year. If the insurer
did not pay a tax under this chapter during the previous calendar
year, the tax paid on each date must be equal to the tax that would
be owed on the aggregate of the gross premiums for the two previous
calendar quarters.
(c) The comptroller may refund any overpayment of taxes that
results from the semiannual prepayment system prescribed by this
section.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
Section: 202.052 202.101 202.102 203.001 203.002 221.001 221.002 221.003 221.004 221.005 221.006 221.007 222.001 222.002 222.003
Last modified: August 11, 2007
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