KRS 136.330 — Tax on premium receipts life insurance company -- Exception

(1) Every life insurance company doing business in this state, other than fraternal
assessment life insurance companies, shall, by March 1 of each year, return to the
Department of Revenue a statement under oath of all premium receipts on business
done in this state during the preceding calendar year or since the last return was
made. "Premium receipts" includes single premiums, annuity premiums, premiums
received for original insurance, premiums received for renewal, revival or
reinstatement of the policies, annual and periodical premiums, dividends applied for
premiums and additions, and all other premium payments received on policies that
have been written in this state, or on the lives of residents of this state, or out of this
state on business done in this state, less returned premiums. No deduction shall be
made for dividends on life insurance or annuity policies, but dividends on accident
and health insurance policies may be deducted. Premium receipts shall not include
annuity premiums or annuity dividends beginning in calendar year 2000.
(2) (a) An annual tax on premium receipts shall be imposed against every company
making a return under this subsection for calendar years beginning before
2000 at a rate of two dollars ($2) upon each one hundred dollars ( $100) of
premium receipts.
(b) An annual tax on premium receipts shall be imposed against every company
making an election pursuant to KRS 136.335 to be taxed under this section,
and every company making a return under this section, for calendar years
beginning in 2000 as follows:
1. For calendar year 2000, one dollar and ninety cents ($1.90) upon each
one hundred dollars ($100) of premium receipts;
2. For calendar year 2001, one dollar and eighty cents ($1.80) upon each
one hundred dollars ($100) of premium receipts;
3. For calendar year 2002, one dollar and seventy cents ($1.70) upon each
one hundred dollars ($100) of premium receipts;
4. For calendar year 2003, one dollar and sixty cents ($1.60) upon each one
hundred dollars ($100) of premium receipts; and
5. For calendar year 2004 and each calendar year thereafter, one dollar and
fifty cents ($1.50) on each one hundred dollars ($100) of premium
receipts.
(3) The health insurance contract or contracts for state employees as authorized by KRS
18A.225 shall not be subject to taxation under this section.