Browse Arkansas Code titles and sections
23-75-120. Tax exemptions.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-75-120. Tax exemptions.
(a) Every corporation doing business pursuant to this chapter is declared to be a nonprofit and benevolent institution.
(b) The corporations are exempt from state, county, district, municipal, and school tax, including the taxes prescribed by this code, and excepting only tax on net direct written premiums under § 23-75-119 and § 26-57-601 et seq. and applicable fees prescribed by § 23-61-401 and other sections of this code, or the Insurance Commissioner's rules applicable to hospital and medical service corporations, and taxes on real and tangible personal property situated in this state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-75-120
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:23-75-120
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cec51ee9b15b177384cf010754f11fe66e35c86eec95fb60478336c1b3e675b6
Source location: content.xml paragraph 43417
Stored source content
23-75-120. Tax exemptions.
(a) Every corporation doing business pursuant to this chapter is declared to be a nonprofit and benevolent institution.
(b) The corporations are exempt from state, county, district, municipal, and school tax, including the taxes prescribed by this code, and excepting only tax on net direct written premiums under § 23-75-119 and § 26-57-601 et seq. and applicable fees prescribed by § 23-61-401 and other sections of this code, or the Insurance Commissioner's rules applicable to hospital and medical service corporations, and taxes on real and tangible personal property situated in this state.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-401. License and miscellaneous fees.
The Insurance Commissioner shall collect annually or biennially as prescribed by rule of the commissioner and pay to the Treasurer of State the following fees, licenses, and miscellaneous charges:
(1) Admission fees: (A) Filing and reviewing all documents necessary for issuance of certificate of incorporation for domestic companies $100.00 (B) Issuance of an original certificate of incorporation for domestic companies 50.00 (C) Reviewing all documents necessary for issuance of original certificate of authority 500.00 (D) Issuance of original certificate of authority for all companies 150.00 (E) Issuance of original license for rate service organiza- tions and employer service assurance organizations 500.00 (F) Filing and reviewing all documents of a nonadmitted company seeking to be placed on the “approved” list for the writing of surplus lines insurance 500.00 (2) Annual renewal fees: (A) Filing an annual statement for all companies 50.00 (B) Renewal of a certificate of authority for all companies 100.00 (C) Rate service organizations and employer service as- surance organizations, annual continuation of license 100.00 (3) Other miscellaneous fees: (A) Amendment to articles of incorporation 25.00 (B) Reinstatement of certificate of authority 50.00 (C) Amending an existing certificate of authority 100.00 (4) Agent's license for resident agents: (A) Property, casualty, surety agents: Original issuance of each license 15.00 Annual continuation of appointment, each insurer 10.00 Appointment of agent by insurer, each insurer 10.00 (B) Life and accident and health insurance agents: Appointment of agent by insurer, each insurer 10.00 Annual continuation of appointment, e
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-401
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. The source passage cites 23-61-401. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-75-119. Premium tax.
(a) The officers of every foreign or alien corporation, and the officers of every domestic corporation, transacting business under this chapter shall, at the time of making its annual statement, file with the Insurance Commissioner a sworn statement of its net direct written premiums for the year ending December 31 next preceding from subscribers residing in this state and shall pay into the State Treasury a premium tax of two and one-half percent (2.5%) on its net direct written premiums in compliance with the provisions of § 26-57-601 et seq. as a tax for the privilege of transacting business in this state.
(b) No certificate of authority shall be renewed for any corporation until the tax is paid.
(c)(1) The tax shall be in lieu of other taxes, district or state, county or municipal, based on premiums written by the corporation in this state.
(2) No subdivision of this state may impose any license fee for the privilege of conducting business in any portion thereof.
(d) Pursuant to and subject to the conditions expressed in the provisions of § 26-57-604, the corporation is entitled to take against its premium taxes due an offset or credit for the salaries or wages of noncommissioned Arkansas employees of the corporation.
(e) Absent an extension granted by the commissioner for good cause, failure of any licensed corporation to report this net direct written premium tax or pay this net direct written premium tax, or both, shall subject the corporation to the applicable penalties of this chapter and § 26-57-601 et seq.
(f) Each hospital or medical service corporation shall have one (1) fiscal year following the reporting and payment year of a premium tax obligation to request a refund or credit for any premium tax overpayment amount,
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-75-119
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. The source passage cites 23-75-119. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-601. Tax additional.
The premium tax levied by §§ 26-57-603 — 26-57-605 shall be in addition to the tax paid by casualty companies and self-insurers writing workers' compensation insurance under the Workers' Compensation Law, § 11-9-101 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-601
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. The source passage cites 26-57-601. This identifies an authority to review, not proof of applicability.