Chapter 4 - Fees And Taxes
CHAPTER 4 - FEES AND TAXES
26-4-101. Fee schedule.
(a) The commissioner shall collect in advance orcontemporaneously fees, licenses and miscellaneous charges as specified in thissubsection. Collection may include the acceptance of electronic funds transfer.All fees and other charges collected by the commissioner as specified in thissubsection shall be nonrefundable:
(i) Certificate of authority:
(A) For filing application for insurer's initial certificate ofauthority, including all documents submitted as a part of the application,examination of application and issuance of certificate of authority, if issued----------------------------------------------- $750.00
(B) Annual continuation, including filing of annual statement ----------------------------------------------------- $500.00
(C) Reinstatement (W.S. 26-3-114(c)) $ 50.00
(D) Certified copy -------------------------- $15.00
(E) Registration of additional title (W.S. 26-3-120) $ 25.00
Annual renewal------------------------ $25.00
(ii) Charter documents (other than those filed with applicationfor certificate of authority). Filing amendments to articles of incorporation,charter, bylaws, power of attorney (as to reciprocal insurers) and otherconstituent documents of the insurer, each document
........------------------------------------------------ .....$ 10.00
(iii) Annual statement. For filing annual statement other thanincluded with (a)(i)(A) or (B) of this subsection---- $ 25.00
(iv) Service of process, acceptance----------- $ 10.00
(v) Agents:
(A) Property, casualty, surety and title insurance agents:
(I) Application for original residentagent's license and issuance of license, if issued
----------------------------------------------------- $100.00
(II) Appointment of agent, each insurer --- $15.00
(III) Annual continuation of appointment, each insurer $15.00
(IV) Temporary license, application fee, and issuance, if issued----------------------------------------------------- $ 10.00
(V) License under waiver of residencyrequirement pursuant to a reciprocal agreement, application fee and issuance $150.00
(VI) Continuation of license:
Resident------------------------- $100.00
Nonresident---------------------- $150.00
(VII) Statement of termination of appointment, each insurer------------------------------------------------------ $15.00
(B) Life or disability insurance:
(I) Application for original residentagent's license and issuance of license, if issued
----------------------------------------------------- $100.00
(II) Appointment of agent, each insurer --- $15.00
(III) Annual continuation of appointment, each insurer $15.00
(IV) Temporary license, application fee, and issuance, if issued----------------------------------------------------- $ 10.00
(V) License under waiver of residencyrequirement pursuant to a reciprocal agreement, application fee and issuance $150.00
(VI) Continuation of license:
Resident------------------------- $100.00
Nonresident--------------------------------------------- $150.00
(VII) Statement of termination of appointment, each insurer------------------------------------------------------ $15.00
(vi) Repealed By Laws 2004, Chapter 7, 2.
(vii) Repealed by Laws 2001, Ch. 201, 5.
(viii) Surplus line brokers:
Application fororiginal license, and issuance of license, if issued----------------------------------------------- $100.00
Continuation oflicense-------------------- $100.00
(ix) Adjusters:
Application fororiginal license, and issuance of license, if issued----------------------------------------------- $100.00
Continuation oflicense-------------------- $100.00
(x) Repealed By Laws 2004, Chapter 7, 2.
(xi) Service representative:
Application fororiginal license, and issuance, if issued $100.00
Continuation oflicense-------------------- $100.00
(xii) Insurance consultant for hire:
Application fororiginal license----------- $ 20.00
Original licenseif issued----------------- $100.00
Continuation oflicense-------------------- $100.00
(xiii) Repealed by Laws 1993, ch. 97, 2.
(xiv) Limited license pursuant to W.S. 26-9-209(c):
Application fororiginal license and issuance of license, if issued------------------------------------------------ $20.00
Continuation oflicense------------------- $20.00
(xv) Rating organization license or triennial renewal thereof,including all kinds of insurance as to which licensed $150.00
(xvi) Certification of any document and affixing seal of officethereto---------------------------------------------- $ 15.00
(xvii) Copies of documents on file in the department, a reasonableuniform charge per page as fixed by the commissioner.
(b) Repealed by Laws 1993, ch. 97, 2.
26-4-102. Record of receipts; payment to treasurer; credit to fund.
(a) The commissioner shall keep a complete and accurate recordof all monies he receives and disburses. All tax returns and records are opento examination at any time by the director of the state department of audit orhis representative.
(b) The commissioner shall promptly pay all monies he receivesfrom any charges to the state treasurer for credit to the general fund, exceptthat:
(i) Fees received pursuant to W.S. 26-4-101(a)(v)(A)(I) and(B)(I) shall be paid and credited as provided in W.S. 26-10-107; and
(ii) Fifty percent (50%) of the gross premium tax levied uponfire insurance premiums shall be deposited by the state treasurer in thevolunteer firemen's pension account pursuant to W.S. 35-9-604. For purposes ofthis paragraph, the gross premium tax levied upon fire insurance premiums isequal to twenty-six percent (26%) of the total gross premium tax levied uponall property, casualty and multiple line insurers.
26-4-103. Premium taxes; generally; preemption by state.
(a) Each authorized and formerly authorized insurer shall filewith the commissioner on or before March 1 each year or within any extendedperiod the commissioner grants not to exceed thirty (30) days, a report in aform the commissioner prescribes showing, except for wet marine andtransportation insurance as defined in W.S. 26-5-107 and except as providedunder subsection (k) of this section, total direct premium income includingpolicy, membership and other fees, and all other considerations for insuranceand annuity contracts, however designated, it received during the immediatelypreceding calendar year because of policies and contracts covering property,subjects or risks located, resident or to be performed in this state. The totaldirect premium income reported shall include proper proportionate allocation ofpremiums or consideration as to those persons, property, subjects or risks inthis state insured or covered under policies or contracts covering persons,property, subjects or risks located or resident in more than one (1) state, andshall be computed after deducting:
(i) The amount of return premiums on cancelled policies, butnot including the return of cash surrender values on life policies or annuitycontracts; and
(ii) The amount returned to policyholders as current dividends.
(iii) Repealed by Laws 1986, ch. 22, 1,4.
(b) At the same time the report is filed, each insurer shallpay for the privilege of transacting business in this state, a tax upon netpremiums and net considerations to be computed at the following rates:
(i) As to each insurer, the tax rate, except as to annuityconsiderations, shall be as follows:
(A) For premium income received in 1991 the tax rate shall betwo and one-tenth percent (2.1%);
(B) For premium income received in 1992 the tax rate shall beone and six-tenths percent (1.6%);
(C) For premium income received in 1993 the tax rate shall beone and two-tenths percent (1.2%);
(D) For premium income received in 1994 and thereafter the taxrate shall be seventy-five hundredths percent (.75%).
(ii) Repealed by Laws 1986, ch. 22, 2,4.
(iii) As to annuity considerations, the tax rate is one percent(1%).
(c) As to wet marine and transportation insurance, on or beforeMarch 1 of each year each authorized and formerly authorized insurer shall fileits report with the commissioner, on forms he prescribes and furnishes oraccepts, of its gross underwriting profit on that insurance written in Wyomingduring the immediately preceding calendar year, and, at the same time, shallpay a tax of three-fourths percent (3/4%) of the gross underwriting profit.
(d) The gross underwriting profit shall be ascertained bydeducting from the net premiums (i.e. gross premiums less all return premiumsand premiums for reinsurance) on the wet marine and transportation insurancecontracts the net losses paid (i.e. gross losses paid less salvage andrecoveries on reinsurance ceded) during the calendar year under the contracts.In the case of insurers issuing participating contracts, for tax computationunder this subsection, gross underwriting profit does not include the amountsrefunded or paid as participating dividends by those insurers to the holders ofthose contracts.
(e) Repealed by Laws 1986, ch. 22, 3.
(f) Payment of the tax required by this section is instead ofall taxes imposed by the state upon premiums or upon income and of franchise,privilege or other taxes measured by the insurer's income.
(g) The state preempts the field of regulating, or of imposingany taxes, licenses and fees upon insurers and their general agents, agents andother representatives and on the intangible property of insurers or theirrepresentatives. All political subdivisions or agencies in the state areprohibited from regulating insurers or their general agents, agents and otherrepresentatives and from imposing or levying upon them any tax, license or fee.This provision does not prohibit the imposition by political subdivisions oftaxes upon real and tangible personal property of insurers, general agents,agents and representatives.
(h) The provisions of subsections (f) and (g) of this sectionshall not be modified or repealed by any law of general application enactedafter December 31, 1967 unless expressly referred to or expressly repealedtherein.
(j) No tax is due or payable because of premiums orconsiderations received from policies or contracts issued in connection with apension annuity or profit-sharing plan exempt or qualified under sections 401,403, 404, 408, 457 or 501 of the United States Internal Revenue Code of 1954,as amended or renumbered.
(k) Notwithstanding subsection (a) of this section, anyauthorized insurer selling insurance shall beginning January 1, 1991 and inaccordance with this subsection, pay premium taxes quarterly based upon anestimate of taxes payable on total direct premium income including policy,membership and other fees:
(i) Each estimated quarterly tax payment shall be payable on orbefore the last day of the month immediately following the end of the calendarquarter for which payment is due, except payment for the calendar quarterending December 31 of each year shall be payable on or before March 1 of theimmediately succeeding calendar year and shall include any adjustments for thecalendar year for which the final quarterly payment is made. Except for thecalendar quarter ending December 31, the quarterly payment shall not be lessthan twenty-five percent (25%) of the total premium tax paid during thepreceding calendar year;
(ii) Any adjustment to estimated quarterly payments for anycalendar year and any claim by an insurer for a refund shall be made at thetime of filing the annual report required under subsection (a) of thissection. Following notice to the insurer by the commissioner, adjustment underthis paragraph may be added to or deducted from subsequent quarterly paymentsunder this subsection;
(iii) The commissioner shall suspend or revoke the certificate ofauthority for any insurer failing to pay premium taxes pursuant to thissubsection.
(m) The amount of tax credits for which an insurer qualifiesunder W.S. 9-12-1301 through 9-12-1312 shall be allowed as a credit againstpremium tax owed by the insurer under this section.
26-4-104. Repealed by Laws 1991, ch. 149, 2(a) and (b).
26-4-105. Premium taxes; commissioner to collect tax; failure to pay.
(a) The taxes imposed under W.S. 26-4-103 shall be collected bythe commissioner.
(b) If the insurer does not pay the tax on or before March 31of the year in which due, the tax is delinquent, and the commissioner mayenforce payment thereof by the seizure, distraint and sale of any of theinsurer's property within Wyoming or by any other lawful means. If the tax isdelinquent, the commissioner shall suspend or revoke the insurer's certificateof authority.