(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction or credit upon its gross premiums tax in the same amount paid to the other state or foreign country.
(b) This section does not apply to any of the following imposed by another state:
(1) An application fee, examination fee, license fee, appointment fee, or a continuation fee for an agent, adjuster, service representative, or consultant of a domestic property and casualty insurer; or
(2) An ad valorem tax on real or personal property or special purpose obligations, fees, or assessments.
Section: Previous 23-63-103 23-63-104 23-63-105 23-63-107 23-63-109 23-63-110 23-63-111 23-63-112 23-63-113 23-63-114 23-63-115 23-63-116Last modified: November 15, 2016