Texas Insurance Code - Section 223.003. Tax Imposed
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§ 223.003. TAX IMPOSED. (a) An annual tax is imposed on
each title insurance company that receives premiums from the
business of title insurance. The rate of the tax is 1.35 percent of
the title insurance company's taxable premiums for a calendar year,
including any premiums retained by a title insurance agent as
provided by Section 223.005. For purposes of this chapter, a person
engages in the business of title insurance if the person engages in
an activity described by Section 2501.005.
(b) Except as provided by Subsection (c), in determining a
title insurance company's taxable premiums, the company shall
include the total amounts of premiums received in a calendar year
from title insurance written on property located in this state.
(c) The following premiums are not included in determining a
title insurance company's taxable premiums:
(1) premiums received from other title insurance
companies for reinsurance; and
(2) returned premiums and dividends paid to
policyholders.
(d) In determining a title insurance company's taxable
premiums, a title insurance company is not entitled to a deduction
for premiums paid for reinsurance.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
Section: 222.004 222.005 222.006 222.007 222.008 223.001 223.002 223.003 223.004 223.005 223.006 223.007 223.008 223.009 223.010
Last modified: August 11, 2007
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