On June 17, 2022, the Texas Supreme Court released an opinion in Hegar v. Health Care Serv. Corp. (No. 21-0080) (Jun 17, 2022) regarding whether the Comptroller properly taxed an insurer based on premiums it received from sales of stop-loss insurance policies under Texas Insurance Code Chapters 222 and 257.
Tax Related Developments
Complimentary Invitation to CCIA Delta Tax Webinar – May 22, 2018
Chris Flanagan, Partner at Locke Lord LLP, and Jim Sabella, CPA and Tax Partner at Dixon Hughes Goodman LLP, will present a webinar on Tax Reform: Implications for Insurers and Reinsurers. This webinar is sponsored by CCIA Delta and hosted by 202works, and will provide key insights into the…
Can Republican-Led States Succeed in Enjoining the Affordable Care Act?
You’re Invited – Insurance M&A and Capital Raising Roundtable
Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry.
A panel discussion will follow discussing tax reform…
New Tax Law May Reduce Tax Benefit for Cross-Border Affiliated Insurance/Reinsurance Premiums
On December 22, 2017, the President signed into law H.R. 1, known generally as the Tax Cuts and Jobs Act (the “TCJA”), which makes widespread changes to the Internal Revenue Code. The TCJA includes a number of provisions that impact the taxation of the insurance and reinsurance sector, particularly in…
Please Join Us – Insurance M&A and Capital Raising Roundtable
Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry – what do we anticipate next?
Presenters:
Marc…
Disclosure Deadlines Extended for Participants in and Material Advisors to Micro-Captive Transactions
On December 29, 2016, the Internal Revenue Service issued Notice 2017-08, extending the disclosure deadlines for participants in and material advisors to certain micro-captive transactions.
Prior guidance from the Service, issued in Notice 2016-66, had identified certain micro-captive transactions as “transactions of interest” and indicated that the general disclosure requirements…
Surplus Lines Tax Filing Update: Surplus Lines Clearinghouse Issues Bulletin Discontinuing Multistate Platform
As we previously reported here, the Non-Admitted Insurance Multi-State Association (“NIMA”) had announced its intentions to dissolve, with a run-off period until September 30, 2017 to allow for endorsements to be filed through the Surplus Lines Clearinghouse (the “Clearinghouse”). Yesterday, the Clearinghouse published a bulletin here providing guidance to…
New York Surplus Lines Tax Update: New York Clarifies Franchise Tax Position on Surplus Lines Insurers under Backdrop of NRRA
Last month, New York issued two advisory opinions that could alter the tax obligations for surplus lines insurers. Advisory Opinion TSB-A-16(5)(C) (June 10, 2016, available here) and Advisory Opinion TSB-A-16(4)(C) (June 10, 2016, available here) (collectively, the “Opinions”) address how the franchise tax under N.Y. Tax Law §…
Rhode Island Proposes Innovative Approach to Reduce Premium Tax Rate
Parallel bills proposing to reduce the current two-percent Rhode Island insurance premium tax are before both the Rhode Island House and Senate. Working with the Rhode Island Department of Business Regulation, Representative Joseph Shekarchi (who is the primary author of the House bill) and Senator William Walaska (who is…