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 (H.B. 2636), 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.