Premium Tax
/ˈprimiəm tæks/
Definitions
- (n.) A tax imposed on insurance premiums, typically levied on insurers or policyholders as a percentage of the premium paid.
The insurer calculated the premium tax owed for all policies issued in the state.
Forms
- premium tax
- premium taxes
Related terms
See also
Commentary
Premium taxes vary significantly by jurisdiction and are often a key source of state revenue; drafters should specify the applicable rates and responsible parties.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.