Kansas Statutes 44-588. Same; premium tax; rate, payment and assessment period
Terms Used In Kansas Statutes 44-588
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
As a condition precedent to the continuation of the certificate of authority provided in this act, all group-funded workers’ compensation funds shall pay not later than 90 days after the end of each calendar year a tax upon the annual Kansas gross premium collected by the pool at the rate of 1% per annum applied to the collective premium relating to all Kansas members of the pool for the preceding calendar year. In the computation of the tax, all pools shall be entitled to deduct any annual Kansas gross premiums returned on account of cancellation or dividends returned to members of such pools or expenditures used for the purchase of specific and aggregate excess insurance, as provided in Kan. Stat. Ann. § 44-582(a), and amendments thereto.