North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05E .0102 — Additional Fire And Lightning Taxes

17 NCAC 05E .0103 PREMIUM FINANCE CHARGES AND OTHER CHARGES Gross premiums from business in this State include premium finance charges and installment payment charges or other charges received as a result of the partial payment of premiums by a policyholder. These charges are therefore subject to tax. 17 NCAC 05E .0104 DIVIDENDS APPLIED TO PURCHASE ADDITIONAL PAID-UP LIFE Dividends applied to purchase additional paid-up life insurance are not taxable under G.S. 105-228.5 since gross premiums are deemed to be the amounts specified in the life insurance policy contracts when issued.

Last amended: Authority G.S. 105-228.5; 105-262; Eff. February 1, 1976; Readopted Eff. February 28, 1978; Transferred and Recodified from 11 NCAC 11E .0202 Eff. January 15, 1998; Amended Eff. August 1, 1998; Repealed Eff. February 1, 2008. History Note: Authority G.S. 105-228.5; 105-262; Eff. April 1, 1993; Transferred and Recodified from 11 NCAC 11E .0203 Eff. January 15, 1998; Amended Eff. August 1, 1998; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017

Source: official text