Premium tax

Term · Insurance and risk management · MLC-T-INS-002648

A tax levied by state governments on the gross premiums written by insurance companies within that state's jurisdiction. Insurers pay this tax on the business they conduct in a state, and it serves as a primary source of revenue for state insurance departments and general funds. The tax rates and the specific premiums subject to the tax vary by state and by line of insurance, with typical rates ranging from one to three percent.

Table 1. Record
Identifier	MLC-T-INS-002648
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-002648",
  "term": "Premium tax",
  "field": "Insurance and risk management",
  "definition": "A tax levied by state governments on the gross premiums written by insurance companies within that state's jurisdiction. Insurers pay this tax on the business they conduct in a state, and it serves as a primary source of revenue for state insurance departments and general funds. The tax rates and the specific premiums subject to the tax vary by state and by line of insurance, with typical rates ranging from one to three percent.",
  "url": "https://mlchart.com/terminology/insurance/premium-tax/"
}

Record 2,687 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.