Browse Arkansas Code titles and sections
26-57-601. Tax additional.
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. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:26-57-601
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c4708d1c75c9d3ee4ac5e6cca27f4a2f4861185c7a6528c29146d8db39879b6b
Source location: content.xml paragraph 27846
Stored source content
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.
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Arkansas Code — all titles (historical 2020) · legal_authorities
11-9-101. Title — Purpose.
(a) This chapter shall be cited as the “Workers' Compensation Law”.
(b) The primary purposes of the workers' compensation laws are to pay timely temporary and permanent disability benefits to all legitimately injured workers who suffer an injury or disease arising out of and in the course of their employment, to pay reasonable and necessary medical expenses resulting therefrom, and then to return the worker to the work force; to improve workplace safety through safety programs; to improve health care delivery through use of managed care concepts; to encourage the return to work of injured workers; to deter and punish frauds of agents, brokers, solicitors, employers, and employees relating to procurement of workers' compensation coverage or the provision or denial of benefits; to curtail the rise in medical costs associated with the provision of workers' compensation benefits; and to emphasize that the workers' compensation system in this state must be returned to a state of economic viability.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 11-9-101
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 11-9-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-603. Tax reports generally.
(a) Each authorized, each formerly authorized, and each unauthorized insurer as defined in § 23-60-102(12) shall file with the Insurance Commissioner on or before March 1 of each year a report in form as prescribed by the commissioner showing, except as to wet marine and foreign trade insurance as defined in § 26-57-605(d), total direct premium income including policy, membership, and other fees, and all other considerations for insurance, from all kinds and classes of insurance, whether designated as premium or otherwise, written by it during the preceding calendar year on account of policies and contracts covering property, subjects, or risks located, resident, or to be performed in this state, with proper proportionate allocation of premium as to the persons, property, subjects, or risks in this state insured under policies or contracts covering persons, property, subjects, or risks located or resident in more than one (1) state, after deducting from the total direct premium income dividends and similar returns paid or credited to policyholders other than as to life insurance, applicable cancellations, returned premiums, the unabsorbed portion of any deposit premium, and the amount of reduction in, or refund of, premiums allowed to industrial life policyholders for payment of premiums directly to an office of the insurer.
(b) No deduction shall be made of the cash surrender values of policies.
(c) Considerations received on annuity contracts shall not be included in total direct premium income and shall not be subject to tax.
(d) Each authorized, unauthorized, or formerly authorized domestic, foreign, and alien insurer shall pay to the Treasurer of State through the commissioner, as a tax imposed for the privilege of transact
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-603
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 26-57-603. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-605. Wet marine and foreign trade insurers — Report and remittance of tax.
(a) As to wet marine and foreign trade insurance written in this state during the preceding calendar year, on or before March 1 of each year, each authorized, unauthorized, or formerly authorized insurer shall file its report with the Insurance Commissioner, on forms as prescribed by the commissioner of its gross underwriting profit thereon.
(b) As a tax imposed for the privilege of transacting such wet marine and foreign trade insurance in this state, a tax of three-quarters of one percent (¾%) of the gross underwriting profit shall be reported and paid on a quarterly estimate basis at such times and upon forms as shall be prescribed by the commissioner and reconciled annually at the time of filing the annual report.
(c)(1) The gross underwriting profit shall be ascertained by deducting from the net premiums, which are the gross premiums less all return premiums and premiums for reinsurance, on wet marine and foreign trade insurance contracts, the net losses paid, which are the gross losses paid less salvage and recoveries on reinsurance ceded, during the calendar year under those contracts.
(2) In the case of insurers issuing participating contracts, the gross underwriting profit shall not include for computation of the tax prescribed by this section the amounts refunded or paid as participation dividends by the insurers to the holders of the contracts.
(d) As used in this subchapter, “wet marine and foreign trade insurance” includes only:
(1) Insurances upon vessels, crafts, hulls, and of interests therein, of, or with relations thereto;
(2) Insurance of marine builder's risks, marine war risks, and contracts of marine protection and indemnity insurance;
(3) Insurance of
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-605
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 26-57-605. This identifies an authority to review, not proof of applicability.