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054.01.112-5. Premium Tax

AR ADC 054.01.112-5Arkansas Administrative CodeEffective: December 12, 2020

West's Arkansas Administrative Code
Title 054. Insurance Department
Division 01. Legal Division
Rule 112. Travel Insurance
Effective: December 12, 2020
Ark. Admin. Code 054.01.112-5
054.01.112-5. Premium Tax
A. A travel insurer shall pay premium tax, as provided in ยง 26-57-603 on Travel Insurance premiums paid by any of the following:
(1) An individual primary policyholder who is a resident of this state;
(2) A primary certificate-holder who is a resident of this state who elects coverage under a Group Travel Insurance policy; or
(3) A Blanket Travel Insurance policyholder that is a resident in, or has its principal place of business or the principal place of business of an affiliate or subsidiary that has purchased Blanket Travel Insurance in this state for eligible blanket group members, subject to any apportionment rules which apply to the insurer across multiple taxing jurisdictions or that permit the insurer to allocate premium on an apportioned basis in a reasonable and equitable manner in those jurisdictions.
B. A travel insurer shall:
(1) Document the state of residence or principal place of business of the policyholder or certificate-holder, as required in Section 5A; and,
(2) Report as premium only the amount allocable to Travel Insurance and not any amounts received for Travel Assistance Services or Cancellation Fee Waivers.

Credits

Adopted Dec. 12, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 054.01.112-5, AR ADC 054.01.112-5
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