304.10-180 Taxes on surplus lines.
(1) Each broker shall pay the following taxes:
(a) A tax at the rate of three percent (3%) on the premiums, assessments, fees, charges, or
other consideration deemed part of the premium as defined in KRS 304.14-030, on <br>surplus lines insurance subject to tax transacted by him or her with unauthorized <br>insurers during the preceding calendar quarter as shown by his or her quarterly <br>statement filed with the commissioner in accordance with KRS 304.10-170. The tax <br>shall not be assessed on the premium surcharge tax, the local government premium <br>tax, or any other state or federal tax. The tax shall be remitted to the commissioner <br>within thirty (30) days of the end of each calendar quarter. When collected the tax <br>shall be credited to the insurance regulatory trust fund, as established by KRS 304.2-<br>400;
(b) The premium surcharge tax, to be remitted to the Kentucky Department of Revenue,
in accordance with KRS 136.392; and
(c) The local government premium tax, to be remitted to the appropriate city, county, or
urban-county government taxing authority, in accordance with KRS 91A.080. Each <br>broker shall be subject to the provisions of this section and KRS 91A.080 and <br>91A.0802 to 91A.0810 as an insurance company.
(2) If a surplus lines policy covers risks or exposures only partially in this state the tax so
payable shall be computed upon the proportion of the premium which is properly allocable <br>to the risks or exposures located in this state.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1099, effective July 15, 2010; and ch. 165, sec. 2,
effective July 15, 2010. -- Amended 2008 Ky. Acts ch. 94, sec. 6, effective July 15, 2008. -- <br>Amended 2005 Ky. Acts ch. 85, sec. 678, effective June 20, 2005. -- Amended 2002 Ky. Acts <br>ch. 273, sec. 42, effective July 15, 2002. -- Amended 2000 Ky. Acts ch. 393, sec. 45, effective <br>July 14, 2000. -- Amended 1982 Ky. Acts ch. 123, sec. 12, effective July 15, 1982. -- Created <br>1970 Ky. Acts ch. 301, subtit. 10, sec. 18, effective June 18, 1970.
Legislative Research Commission Note (7/15/2010). This section was amended by 2010 Ky.
Acts chs. 24 and 165, which do not appear to be in conflict and have been codified together.
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