Source: http://dccode.elaws.us/code?no=31-3931.12
Timestamp: 2019-12-13 13:32:14
Document Index: 681702979

Matched Legal Cases: ['§ 31', '§ 31', '§ 13', '§ 31', '§ 31', '§ 31']

§ 31-3931.12. Tax on premiums collected.
(i) A captive insurer that is issued a certificate of authority during the last quarter of the calendar year may file a written request with the Commissioner for a reduction in the minimum premium tax obligation calculated pursuant to subsections (c) and (d) of this section. The Commissioner may grant the a request pursuant to an appropriate methodology adopted by rule.
(k) One hundred percent of the revenues collected from the tax imposed pursuant to this section shall be credited to the account for the regulation and supervision of captive insurers created by § 31-1202(b-1).
D.C. Law 17-219 added subsec. (a-1); in subsec. (d), substituted "subsections (a-1) and (b)" for "subsections (a) and (b)" and substituted "$15,000" for "$10,000"; and repealed subsec. (l), which had read as follows:
"(l) In determining the amount of premium taxes payable under this section, any insurance contract entered into by a captive insurance company issued a certificate of authority pursuant to this chapter, regardless of the location of the risk or the domicile of the purchaser, shall be subject to the payment of premium taxes on that transaction to the District of Columbia; provided, that upon presentation of evidence that another jurisdiction has claimed, and the company has paid, premium taxes to that jurisdiction on the same transaction, the company may credit the amount paid to the other jurisdiction against premium taxes owed to the District of Columbia."
For temporary (90 day) addition of section, see § 13 of Captive Insurance Company Emergency Act of 2004 (D.C. Act 15-640, November 30, 2004, 52 DCR 1238).
For Law 16-91, see notes following § 31-3931.02.
For Law 16-191, see notes following § 31-1131.02.
For Law 17-219, see notes following § 31-3403.01.
Short title: Section 2013 of D.C. Law 17-219 provided that subtitle F of title II of the act may be cited as the "Captive Insurance Company Adjustment Amendment Act of 2008".
Section 2015 of D.C. Law 17-219 provides that this subtitle shall apply as of January 1, 2008.