136.340 Tax on amounts paid to stock insurance companies, other than life.

147 words·~1 min read·/ky/chapter-136/136-340

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Every stock insurance company, other than life, doing business in this state shall, on

or before the first day of March of each year, return to the Department of Revenue a

statement under oath of all amounts paid to the company or its representative,

whether designated as premiums or otherwise, for insurance or services incident

thereto, on property or risks in this state during the preceding calendar year or since

the last returns were made, including amounts received for reinsurance on Kentucky

risks from unauthorized companies, and shall at the same time pay a tax of two

dollars ($2) upon each one hundred dollars ($100) of such amounts paid to the

company, less amounts returned on canceled policies and policies not taken.

(2)The health insurance contract or contracts for state employees as authorized by KRS

18A.225 shall not be subject to taxation under this section.