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31.06.01.00.htm 31.06.01.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 06 TAXES AND FEES Chapter 01 Allocation and Taxation of Premiums Authority: Insurance Article, §2-109 and 6-102―6-104, Annotated Code of Maryland
31.06.01.01.htm 31.06.01.01. 01 Authority and Purpose.. A. Pursuant to the authority contained in Insurance Article, Title 6, Subtitle 1, Annotated Code of Maryland, the State Insurance Commissioner prescribes by this chapter the methods of allocating the gross direct premium for business transacted by insurers.B. The purpose of this chapter is to establish a uniform method for determining how premiums are to be allocated for premium tax purposes, and to make clear what that method is.
31.06.01.02.htm 31.06.01.02. 02 Method.. Beginning with the annual statement for the calendar year 1970, to be filed on or before March 1, 1971, each insurer shall allocate its premiums in accordance with the following:A. Property and Casualty.. Line of Business. Jurisdiction Charged. Fire. Location of risk. Extended Coverage. Other Allied Lines. Homeowners Multiple Peril. Commercial Multiple Peril. Earthquake. Growing Crops. Wet Marine. Jurisdiction in which contract of insurance is neg
31.06.01.03.htm 31.06.01.03. 03 Waiver By Commissioner.. The method of allocation of gross direct premiums set forth above may be altered or waived in whole or in part by the Commissioner upon application by any insurer and a finding by the Commissioner that the proposed method of allocation justly and fairly determines the portion of the premiums derived from, or reasonably attributable to, the insurer's business in this State.
31.06.01.04.htm 31.06.01.04. 04 Taxes on Premiums Received.. A. Authority. This regulation is deemed necessary as an aid to effectuation of Insurance Article, §6-101, Annotated Code of Maryland.B. Applicability. This regulation applies to all domestic insurers.. C. Taxes on Premiums Received by Domestic Companies Which Are Not Taxed by Another State. In determining the amount of direct premiums taxable in this State, premiums written, procured, or received in this State shall be deemed written on property or
31.06.01.9999.htm 31.06.01.9999. Administrative History Effective date:. Regulations .01―03 effective December 1, 1969. Regulation .01A amended effective October 23, 1995 (22:21 Md. R. 1615). Regulation .04 effective August 1, 1970 ―. Chapter recodified from COMAR 09.30.12 to COMAR 31.06.01 effective September 7, 1998 (25:18 Md. R. 1439)
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