CHAPTER 255. WORKERS' COMPENSATION INSURANCE
INSURANCE CODE
TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES
SUBTITLE C. INSURANCE MAINTENANCE TAXES
CHAPTER 255. WORKERS' COMPENSATION INSURANCE
Sec. 255.001. MAINTENANCE TAX IMPOSED. (a) A maintenance tax
is imposed on each authorized insurer with gross premiums subject
to taxation under Section 255.003, including a:
(1) stock insurance company;
(2) mutual insurance company;
(3) reciprocal or interinsurance exchange; and
(4) Lloyd's plan.
(b) The tax required by this chapter is in addition to other
taxes imposed that are not in conflict with this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 255.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The rate of
assessment set by the commissioner may not exceed 0.6 percent of
the gross premiums subject to taxation under Section 255.003.
(b) The commissioner shall annually adjust the rate of
assessment of the maintenance tax so that the tax imposed that
year, together with any unexpended funds produced by the tax,
produces the amount the commissioner determines is necessary to
pay the expenses during the succeeding year of regulating
workers' compensation insurance.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Sec. 255.003. PREMIUMS SUBJECT TO TAXATION. (a) An insurer
shall pay maintenance taxes under this chapter on the correctly
reported gross workers' compensation insurance premiums from
writing workers' compensation insurance in this state, including
the modified annual premium of a policyholder that purchases an
optional deductible plan under Subchapter E, Chapter 2053.
(b) The rate of assessment shall be applied to the modified
annual premium before application of a deductible premium credit.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
730, Sec. 2C.005, eff. April 1, 2009.
Sec. 255.004. MAINTENANCE TAX DUE DATES. (a) The insurer shall
pay the maintenance tax annually or semiannually.
(b) The comptroller may require semiannual payment only from an
insurer whose maintenance tax liability under this chapter for
the previous tax year was at least $2,000.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,
2005.