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Gross taxable premium receipts: Enter the total gross amounts of premiums; membership fees; assessments; dues; revenues; and any other considerations received for insurance written for the tax year.
The tax applies to any kind of insurance written by the captive insurance company in a calendar year on each kind of property or risk regardless of the location of the property or risk.
Do not deduct premiums paid for reinsurance, and do not include premiums received from another authorized insurer for reinsurance.
Dividends paid to policyholders and returned premiums: These are not included in taxable premium receipts. Do not enter a minus sign in front of the dividend amount unless negative dividends are reflected in the company's Captive Annual Report Form (CARF) that the Texas Department of Insurance requires. Returned premiums should be subtracted from gross premium, but by their nature, will never be negative.
Credits: A premium tax credit is allowed for examination fees paid to the Texas Department of Insurance during the calendar year for which the tax is due, subject to the limitations specified in §803.007, Texas Insurance Code.
Tax waiver: Enter the total amount of premium tax for which the Commissioner of Insurance granted a waiver. Email the order or other documentation received from the Texas Department of Insurance or send a copy toComptroller of Public Accounts
Prior payments for premium tax: Webfile automatically populates this field, which represents prepayments of premium tax made for the current tax year.
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