☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 384

< > Effective - 28 Aug 1989 bottom

  384.059.  Premium tax applicable to surplus lines, rate, payment — broker may charge tax to insured. — 1.  There is hereby imposed on surplus brokers for the privilege of doing the business of a surplus lines broker in this state a tax of five percent of the net premium received with respect to surplus lines insurance on risks located in this state and subject to sections 375.136, 375.301, 375.786 and sections 384.011 to 384.071 as shown on the annual report filed with the department pursuant to section 384.057.  For the purpose of this section, "net premiums" means the gross amount of charges for surplus lines insurance exclusive of sums collected for the payment of federal, state and local taxes, less returned premiums.  The tax shall be paid before April sixteenth of each year.  Nothing in sections 375.136, 375.301, 375.786 and sections 384.011 to 384.071 shall exempt from the tax levied by this section any surplus lines insurance covering risks in this state procured by a surplus lines broker or other broker for or on behalf of an airline, railroad, or motor carrier.  The portion of the risk in this state shall be in the proportion that the carrier's revenue miles in this state bears to its total revenue miles.

  2.  The surplus lines broker may collect from the insured an amount equal to the tax provided for in this section.

­­--------

(L. 1987 H.B. 700 § 17, A.L. 1989 S.B. 250)


---- end of effective  28 Aug 1989 ----

use this link to bookmark section  384.059


Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House