Fees
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Fees:
| Initial Incorporation Fee: | $50 | |
| Annual Business Registration Fee: | $15 | |
| Captive Application Fee: | $1000 | |
| Captive Annual License Fees: | ||
| Class 1 and 2: | $300 | |
| Class 3: | $500 | |
| Class 4 and 5: | $1000 | |
Premium Tax (Annual)
Tax on captive’s premiums only. Rates as follows:
0.25% on premiums from $0 up to $25 million
0.15% on premiums from $25 million up to $50 million
0.05% on premiums from $50 million up to $250 million
0.00% on premiums more than $250 million
No minimum premium tax. Maximum premium tax of $200,000.
No taxation of captive premiums if premiums were previously subjected to tax in jurisdiction where underlying risk is located, or on reinsurance premiums assumed by captive.
Page last modified
04-23-2008 09:12 AM