375.916. Retaliatory tax, how assessed and paid, exceptions.
Retaliatory tax, how assessed and paid, exceptions.
375.916. 1. When by the laws of any other state or foreign country anypremium or income or other taxes, or any fees, fines, penalties, licenses,deposit requirements or other obligations, prohibitions or restrictions areimposed upon Missouri insurance companies or carriers doing business, or thatmight seek to do business, in the other state or country, which in theaggregate are in excess of the taxes, fees, fines, penalties, licenses,deposit requirements or other obligations, prohibitions or restrictionsdirectly imposed upon insurance companies of the other state or foreigncountry under the statutes of this state, so long as the laws continue inforce, the same obligations, prohibitions, and restrictions of whatever kindshall be imposed upon insurance companies or carriers of the other state orforeign country doing business in Missouri. Any tax, license or otherobligation imposed by any city, county or other political subdivision of astate or foreign country on Missouri insurance companies or carriers shall bedeemed to be imposed by the state or foreign country within the meaning ofthis section, and the director of the department of insurance, financialinstitutions and professional registration for the purpose of this sectionshall compute the burden of the tax, license or other obligations on anaggregate statewide or foreign-countrywide basis as an addition to the tax andother charges payable by similar Missouri insurance companies or carriers inthe state or foreign country. The provisions of this section shall not applyto ad valorem taxes on real or personal property, personal income taxes or toassessments on or credits to insurers for the payment of claims ofpolicyholders of insolvent insurers.
2. All licenses, fees, taxes, fines or penalties collectible under thissection shall be paid to the director of revenue. The payment and assessmentof retaliatory tax shall be made on an estimated quarterly basis in the samemanner as premium insurance tax as provided in sections 148.310 to 148.461,RSMo.
(RSMo 1939 § 6046, A.L. 1945 p. 1017, A. 1949 H.B. 2092, A.L. 1951 p. 261, A.L. 1967 p. 516, A.L. 1982 S.B. 470, A.L. 1983 S.B. 125)(Source: RSMo 1959 § 375.450)
CROSS REFERENCE:
Director of the department of insurance, financial institutions and professional registration or director of revenue must make supplemental assessment, when, RSMo 374.245