CHAPTER 255. WORKERS' COMPENSATION INSURANCE - Texas Statutes

INSURANCE CODE

TITLE 3. DEPARTMENT FUNDS, FEES, AND TAXES

SUBTITLE C. INSURANCE MAINTENANCE TAXES

CHAPTER 255. WORKERS' COMPENSATION INSURANCE

Sec. 255.001. MAINTENANCE TAX IMPOSED. (a) A maintenance tax

is imposed on each authorized insurer with gross premiums subject

to taxation under Section 255.003, including a:

(1) stock insurance company;

(2) mutual insurance company;

(3) reciprocal or interinsurance exchange; and

(4) Lloyd's plan.

(b) The tax required by this chapter is in addition to other

taxes imposed that are not in conflict with this chapter.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.

Sec. 255.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The rate of

assessment set by the commissioner may not exceed 0.6 percent of

the gross premiums subject to taxation under Section 255.003.

(b) The commissioner shall annually adjust the rate of

assessment of the maintenance tax so that the tax imposed that

year, together with any unexpended funds produced by the tax,

produces the amount the commissioner determines is necessary to

pay the expenses during the succeeding year of regulating

workers' compensation insurance.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.

Sec. 255.003. PREMIUMS SUBJECT TO TAXATION. (a) An insurer

shall pay maintenance taxes under this chapter on the correctly

reported gross workers' compensation insurance premiums from

writing workers' compensation insurance in this state, including

the modified annual premium of a policyholder that purchases an

optional deductible plan under Subchapter E, Chapter 2053.

(b) The rate of assessment shall be applied to the modified

annual premium before application of a deductible premium credit.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

730, Sec. 2C.005, eff. April 1, 2009.

Sec. 255.004. MAINTENANCE TAX DUE DATES. (a) The insurer shall

pay the maintenance tax annually or semiannually.

(b) The comptroller may require semiannual payment only from an

insurer whose maintenance tax liability under this chapter for

the previous tax year was at least $2,000.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1,

2005.