136.390 Tax on insurance companies other than stock or mutual.
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<![CDATA[136.390 Tax on insurance companies other than stock or mutual. (1) All associations of underwriters authorized under KRS 304.3-040, 304.3-140, 304.28-010, 304.28-030, 304.28-040, and 304.28-050, and their representatives, <br>shall make the same reports as are required of foreign stock insurance companies <br>and their representatives transacting the same or similar kinds of insurance business <br>in this state, and shall pay the same taxes as are required to be paid by such <br>companies. (2) All foreign mutual assessment companies, associations, individual firms, underwriters or Lloyd's, having resident members doing business in this state, who <br>shall enter into contracts of insurance with each other or into agreements to <br>indemnify each other against losses by fire, lightning, windstorm or other casualties <br>for which there is no premium charged or collected at the time insurance is made, <br>shall be deemed to be doing an insurance business in this state, and shall annually, <br>by July 30, pay to the Department of Revenue a license tax of two dollars ($2) upon <br>each one hundred dollars ($100) of assessments paid or collected in any one (1) <br>year. Each resident member shall be liable to the state for the license tax and all <br>interest and penalties. (3) No person shall fail or refuse to make a report giving all the data and information necessary to determine the amount of revenue due under subsection (2) of this <br>section, or fail to make the report provided for in subsection (2) of this section, or <br>fail to pay the tax due thereon. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 327, effective June 20, 2005. -- Amended 1972 Ky. Acts ch. 203, sec. 12. -- Amended 1966 Ky. Acts ch. 187, Part IV, sec. 7. -- <br>Amended 1958 Ky. Acts ch. 126, sec. 11. -- Recodified 1942 Ky. Acts ch. 208, <br>sec. 1, effective October 1, 1942, from Ky. Stat. secs. 743s-10, 4236. ]]>