During the last few years, many states have undertaken aggressive efforts to collect sales tax on amounts paid for service contracts a/k/a extended warranties, which in most states are deemed not to be insurance products. A recent example of this effort is the South Carolina Administrative Law Court’s decision in
Read More SC Court Says Sales Tax Inapplicable to Cellphone Insurance Premiums
New Georgia Captive Law Lowers Taxes Among Other Changes
On April 9, 2015, the Georgia legislature sent a bill to the governor for his signature that would improve the regulatory environment for captive formation in the state. House Bill 552 reduces the taxes imposed on all Georgia domiciled captive insurance companies, among other captive friendly revisions. Once enacted, Georgia’s
Read More New Georgia Captive Law Lowers Taxes Among Other Changes