Captive insurers licensed in Texas may only insure the operational risks of affiliates and the risks of a controlled unaffiliated business. Premium tax is due on the entire premium these captives receive regardless of the location of the risk.
Single-parent captive insurers may apply for a certificate of authority from the Texas Department of Insurance in order to operate in Texas. An authorized foreign or alien captive that is licensed under the laws of another jurisdiction may redomesticate to Texas with Commissioner of Insurance approval.
Licensed captive insurers pay a premium tax rate of .5 percent, with a minimum premium tax due of $7,500 and a maximum premium tax due of $200,000.
Select the amount of taxes you paid in the preceding state fiscal year (Sept. 1 – Aug. 31) to find the reporting and payment methods to use.
In 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Google Chrome, Microsoft Internet Explorer and Apple Safari.