Virginia Code 38.2-1108: Tax on premiums collected
Current as of: 2023 | Check for updates
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All captive insurers transacting business in this Commonwealth shall pay taxes as provided for in Chapter 25 of Title 58.1, except that taxes shall be paid on risks and property situated in any state in which the captive insurer is not licensed and upon which no premium tax is otherwise paid or payable.
Terms Used In Virginia Code 38.2-1108
- Captive insurer: means any pure captive insurer or any association captive insurer. See Virginia Code 38.2-1101
- State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
1980, c. 665, § 38.1-928; 1986, c. 562.