Source: https://development.code.dccouncil.us/dc/council/code/sections/47-2608.html
Timestamp: 2019-04-20 16:42:14+00:00

Document:
D.C. Law Library - § 47–2608. Rates on insurance companies; exceptions; marine insurance excluded; payment schedule; revocation of certificate of authority for failure to pay tax.
↪ § 47–2608. Rates on insurance companies; exceptions; marine insurance excluded; payment schedule; revocation of certificate of authority for failure to pay tax.
§ 47–2607. Revocation of license for failure to file statement.
§ 47–2608. Rates on insurance companies; exceptions; marine insurance excluded; payment schedule; revocation of certificate of authority for failure to pay tax.
(B) Fees and charges provided for by the insurance laws of the District including amendments made to such laws by this chapter.
(ii) Fees and charges provided for by the insurance laws of the District.
(B) This paragraph shall apply as of October 1, 2008.
(B) Dividends paid in cash or used by the policyholders in payment of renewal premiums.
(C) All premiums received from policies or contracts issued in connection with a pension, annuity, profit-sharing plan or individual retirement annuity qualified or exempt under section 401, 403, 404, 408, or 501(a) of the Internal Revenue Code, or successor provisions.
(3) Nothing contained in this section or in § 47-2603 or § 47-2609 shall apply with respect to marine insurance written within the said District and reported, taxed, and licensed under Chapter 26 of Title 31.
(a-1) A hospital service corporation or medical service corporation may deduct, in an amount not to exceed $550,000, the corporation’s payment to the rate stabilization fund under § 31-3514 and payments and expenditures pursuant to a public-private partnership entered into in accordance with the provisions of Chapter 5 of Title 31 from the amount otherwise due by the corporation under subsection (a) of this section.
(b)(1) The tax imposed by subsection (a) of this section shall, for each calendar year prior to calendar year 1977, be paid before the first day of March of the next succeeding calendar year.
(2) Except as provided in paragraph (3) of this subsection, the tax imposed for calendar year 1999, and for each calendar year thereafter, shall be paid on or before the first day of June of the calendar year in which the income to be taxed is received and before the first day of March following the close of each calendar year. The June payment shall be an amount equal to 1/2 of the total premium tax liability determined for the preceding calendar year. In accordance with rules prescribed by the Mayor, each company shall determine its total tax liability for each calendar year and pay the remainder, if any, on or before the first day of March following the close of each calendar year. Overpayments of tax may be refunded to the company or credited to the company’s next installment payment, at the election of the company.
(3) The installment payment provision of subsection (b)(2) of this section shall not apply in the case of any company having a tax liability for the preceding calendar year less than $1,000. In such cases the tax shall be paid on or before the first day of March following the close of the calendar year.
(c) The certificate of authority of any company may be revoked for failure to pay the tax required by this chapter.
This section is referenced in § 31-3514 and § 31-3514.01.
D.C. Law 16-192 added subsec. (a-1).
D.C. Law 17-219, in subsec. (a), inserted “Except as provided in paragraph (1A),” in par. (1), and added par. (1A).
D.C. Law 18-104, in subsec. (a-1), substituted “payment to the rate stabilization fund under § 31-3514 and payments and expenditures pursuant to a public-private partnership entered into in accordance with the provisions of Chapter 5 of Title 31” for “payment to the rate stabilization fund under § 31-3514”.
D.C. Law 18-223, in subsec. (a)(1), substituted “2%” for “1.7%”.
Hospital and medical services corporation regulation, conversion to a mutual company, open enrollment program, see § 31-3516.
Hospital and medical services corporation regulation, conversion to a stock company, open enrollment program, see § 31-3515.
Hospital and medical services corporation regulation, open enrollment, effect on premium tax rate, see § 31-3514.
For temporary (90 day) amendment of section, see § 5013(b)(2) of Fiscal Year 2007 Budget Support Emergency Act of 2006 (D.C. Act 16-477, August 8, 2006, 53 DCR 7068).
For temporary (90 day) amendment of section, see § 5013(b)(2) of Fiscal Year 2007 Budget Support Congressional Review Emergency Act of 2006 (D.C. Act 16-499, October 23, 2006, 53 DCR 8845).
For temporary (90 day) amendment of section, see § 5013(b)(2) of Fiscal Year 2007 Budget Support Congressional Review Emergency Act of 2007 (D.C. Act 17-1, January 16, 2007, 54 DCR 1165).
For temporary (90 day) amendment of section, see § 4(c) of Hospital and Medical Services Corporation Regulatory Emergency Amendment Act of 2009 (D.C. Act 18-277, January 11, 2010, 57 DCR 935).
For temporary (90 day) amendment of section, see § 2183 of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).
Section 4(c) of D.C. Law 18-134 substituted “payment to the rate stabilization fund under § 31-3514 and payments and expenditures pursuant to a public-private partnership entered into in accordance with the provisions of Chapter 5 of Title 31” for “payment to the rate stabilization fund under § 31-3514”.
Section 6(b) of D.C. Law 18-134 provided that the act shall expire after 225 days of its having taken effect.

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