(a)
Other items which shall be included in the retaliatory calculations are:
1. The excise taxes imposed under Sections
175.101 and
185.08, F.S., as well as
comparable taxes in other states.
2. The State Fire Marshal Regulatory
Assessment imposed under Section
624.515, F.S., as well as
comparable assessments in other states.
3. The Florida corporate income tax (CIT)
imposed under Chapter 220, F.S., as well as comparable taxes in other states.
Insurers must use the prior year's taxable income and resulting CIT liability
when calculating Florida's aggregate taxes. However, the insurer must use the
income from the taxable year applicable for calculating any CIT in its state of
incorporation. Such taxable years may vary depending upon the individual
state's taxing statutes. These taxable years may reflect the prior year's
taxable income or the current year's taxable income.
4. Deductions from premium taxes or other
taxes otherwise payable, allowed because of real estate or personal property
taxes paid.
5. That portion of the
Florida Insurance Guarantee Association assessment that was imposed upon the
insurer's property insurance policies, as such insurance is defined in Section
624.604, F.S. Likewise, if the
state of domicile would impose a comparable assessment on a similar Florida
insurer the foreign or alien insurer must include that portion of the state of
domicile's assessment that would relate to the similar insurer's property
insurance premiums.
a. For purposes of
calculating a foreign or alien insurer's includable portion of its Florida
Insurance Guarantee Association assessment, such insurer should take the amount
of premiums which can be classified as property insurance under Section
624.604, F.S., that are subject
to the assessment and divide them by the total premiums subject to the
assessment. The resulting percentage would then be multiplied by the insurer's
Florida Insurance Guarantee Association assessment to determine the portion of
the assessment that may be added back for retaliatory tax purposes. This
process is completed for each Florida Insurance Guarantee Association
assessment.
b. The Florida
Insurance Guarantee Association assessments to be used in the calculations, as
well as the state of domicile's comparable assessment retaliatory tax add
backs, if any, are those assessments due and payable during the taxable
year.
6. Any other taxes,
licenses, fees, fines, penalties, deposit requirements, material obligations,
prohibitions, or restrictions which are or would be imposed upon Florida
insurers or upon the agents or representatives of such insurers doing business
in the foreign insurers' state of domicile, or upon foreign insurers or the
agents or representatives of such insurers doing business in Florida, except
for:
a. Personal income taxes.
b. Sales and use taxes.
c. Ad valorem taxes on real or personal
property.
d. Special purpose
obligations or assessments imposed in connection with particular kinds of
insurance other than property insurance.
e. Reimbursement premiums paid to the Florida
Hurricane Catastrophe Fund.
f.
Emergency assessments paid to the Florida Hurricane Catastrophe
Fund.
(b)
Special purpose obligations as used in this rule means those obligations or
assessments the funds from which are for the benefit of certain parties, and
not for the benefit of all citizens generally. Generally, such obligations will
not materially involve general tax revenues, appropriated funds or state
monies.
1. Using this definition, the
following Florida assessments, as they are currently described in the Florida
Statutes, would be considered special purpose obligations:
a. Workers' compensation administrative
assessment.
b. Workers'
compensation special assessment.
c.
Florida Life and Health Guarantee Association assessment.
d. Florida Insurance Guarantee Association
assessment.
e. Florida
Comprehensive Health Association assessment.
f. State Fire Marshal regulatory
assessment.
g. State Fire Marshal
college surcharge.
2.
Since Section 624.5091(3),
F.S., provides that special purpose obligations or assessments imposed in
connection with particular kinds of insurance other than property insurance are
to be excluded from the retaliatory tax calculation, only the State Fire
Marshal regulatory assessment, the State Fire Marshal college surcharge, and
the portion of the Florida Insurance Guarantee Association assessment that was
imposed upon the insurer's property insurance policies, can be included in the
retaliatory tax calculation. The workers' compensation fund's administrative
and special purpose assessments, and the Florida Life and Health Guarantee
Association assessment cannot be included in the retaliatory tax calculation,
since the assessments are imposed on insurance other than property insurance.
NOTE: The $2 and $4 surcharge imposed under Section
252.372, F.S., is not to be
included in the retaliatory tax calculation, since it is imposed on the
insured.
(c) Taxes in
other states shall be computed using the tax laws of those states, but shall be
based on the insurer's Florida premium volume, personnel, and
property.
