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23-63-116. Retaliatory tax credit.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-63-116. Retaliatory tax credit.
(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction or credit upon its gross premiums tax in the same amount paid to the other state or foreign country.
(b) This section does not apply to any of the following imposed by another state:
(1) An application fee, examination fee, license fee, appointment fee, or a continuation fee for an agent, adjuster, service representative, or consultant of a domestic property and casualty insurer; or
(2) An ad valorem tax on real or personal property or special purpose obligations, fees, or assessments.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-63-116
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-63-116
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a3a760d00f7cc3c16cabda69b2d460f8603f6153146af53b59933e7e53c12f6f
Source location: content.xml paragraph 30931
Stored source content
23-63-116. Retaliatory tax credit.
(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction or credit upon its gross premiums tax in the same amount paid to the other state or foreign country.
(b) This section does not apply to any of the following imposed by another state:
(1) An application fee, examination fee, license fee, appointment fee, or a continuation fee for an agent, adjuster, service representative, or consultant of a domestic property and casualty insurer; or
(2) An ad valorem tax on real or personal property or special purpose obligations, fees, or assessments.
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