2006 Louisiana Laws - RS 22:1071 — Payment of tax

§1071.  Payment of tax

A.  The license taxes levied under the provisions of this Part shall be paid to the commissioner of insurance at Baton Rouge and shall be remitted on a quarterly basis.  The amount of the license taxes due on or before the fifteenth day of the month following the end of the quarter shall be equal to one-fourth of the total previous year's tax.  At the end of the calendar year, the fourth quarter's report shall be adjusted to compensate for overpayments or underpayments of the tax based on that current year's gross receipts of taxable premiums and shall be due on or before March first of the following year and each year thereafter.  Nothing herein contained shall be construed as relieving any insurer from paying to the commissioner of insurance the fees otherwise required or levied by law for qualifying to do business, or for the renewal thereof annually, or for agents' certificates of authority required by law.  The legislative auditor may review any report submitted by an insurer for the payment of license taxes levied under the provisions of this Part.  

B.  Notwithstanding the provisions of Subsection A above, for the period July 1, 1984 through December 31, 1984 and the payment due on or before October 15, 1984, the amount of the license taxes due at the end of each quarter shall be equal to one-fourth of the total previous year's tax plus an amount equal to one-fourth of the additional amount which would have been due had the premiums collected during calendar year 1983 been taxed at the rates as provided in R.S. 22:1062 and 1065 as amended in 1984.  Notwithstanding the provisions of Subsection A, for the period January 1, 1985 through December 31, 1985 and commencing with the payment due on or before April 15, 1985, the amount of license taxes due at the end of each quarter shall be equal to one-fourth of the amount which would have been payable for the previous year had the provisions of R.S. 22:1062 and 1065 as amended in 1984 been effective for the entirety of 1984.  At the end of the 1984 calendar year, the report for the fourth quarter shall be adjusted to compensate for overpayments or underpayments of the tax based on the gross receipts of taxable premiums for 1984 and based upon rates as provided in R.S. 22:1062(B) and R.S. 22:1065(B).  

Acts 1984, 1st Ex. Sess., No. 3, §1, eff. March 27, 1984; Acts 1991, No. 10, §1, eff. June 10, 1991.