36 §2523. Taxation of workers' compensation insurers - Maine Statutes

Title 36: TAXATION

Part 4: BUSINESS TAXES

Chapter 357: INSURANCE COMPANIES

§2523. Taxation of workers' compensation insurers

1. Tax on insurance companies. Every insurance company or association which does business or collects premiums or assessments for workers' compensation insurance in this State shall, for the privilege of doing business in this State and in addition to any other taxes imposed for that privilege, pay a tax of 2% upon all gross direct premiums written, whether in cash or in notes absolutely payable on contracts written on risks located or resident in the State for workers' compensation insurance, less return premiums thereon and less all dividends paid to policyholders.

The tax levied under this section is in lieu of the taxes levied under section 2513, insofar as those taxes are based on workers' compensation insurance premiums.

[ 1985, c. 783, §14 (RPR) .]

2. Returns. Insurance companies and associations shall file a separate return under section 2521-A for the tax levied by this section.

[ 1983, c. 479, §3 (NEW) .]

3. Fund. Taxes collected under this section shall be paid forthwith by the State Tax Assessor to the General Fund.

[ 1983, c. 479, §3 (NEW) .]

SECTION HISTORY

1983, c. 479, §3 (NEW). 1985, c. 783, §14 (AMD).