40-1211. Premium tax; in lieu of certain other taxes.
40-1211
40-1211. Premium tax; in lieu of certain other taxes.The taxable premiums or premium receipts of any mutual insurancecompany organized in or admitted to this state, for the purpose oftaxation under any law of this state, shall be the gross premiumsreceived for direct insurance upon property or risks in this state,deducting amounts received for reinsurance and deducting premiums uponpolicies not taken, premiums returned on canceled policies, and anyrefund or return made to policyholders other than for losses. The taxesand fees paid by mutual insurance companies into the state treasurythrough the commissioner of insurance shall be in lieu of all fees,licenses and taxes, state, county and municipal, except such taxes onreal estate and tangible personal property as may be levied under otherprovisions of law.
History: L. 1927, ch. 231, 40-1211; June 1.