§ 38.2-3812. Tax on gross premium receipts
The officers of each company shall, at the time of making the annual statement, file with the Commission a sworn statement of its gross premium receipts collected from members residing in this Commonwealth for the preceding year ending December 31. Each company shall pay into the state treasury by March 1 of each year, a tax of one percent on its collected gross premiums. The tax shall be in lieu of all other taxes, state, county or municipal, based on such gross premium receipts. No city, town, municipality or other subdivision of the Commonwealth shall impose any license fee on the company or any of its agents for the privilege of conducting business in any portion of this Commonwealth. In determining such gross premium receipts, the company shall not take credit for any expenditures.
(Code 1950, § 38-494; 1952, c. 317, § 38.1-511; 1986, c. 562; 1987, cc. 565, 655.)
Sections: Previous 38.2-3804 38.2-3805 38.2-3806 38.2-3807 38.2-3808 38.2-3809 38.2-3810 38.2-3811 38.2-3812 38.2-3813 38.2-3814 38.2-3815 38.2-3816 38.2-3817 38.2-3818 NextLast modified: April 3, 2009