Louisiana Administrative Code
Title 61 - REVENUE AND TAXATION
Part V - Ad Valorem Taxation
Chapter 23 - Insurance Companies
Section V-2301 - Guidelines for Ascertaining the Fair Market Value of Insurance Companies

Universal Citation: LA Admin Code V-2301

Current through Register Vol. 50, No. 3, March 20, 2024

A. The Tax Commission will assess insurance companies with a taxable situs within the state of Louisiana at 15 percent of the average monthly amount of direct premiums written during the previous year.

B. Credit assessments of insurance companies shall be allocated to the parish where the company's official domicile is registered and/or recorded or, lacking same, to the parish of domicile of its designated principal agent pursuant to R.S. 47:1952(C).

C. The Secretary of State will act as agent for service of process for those companies operating within Louisiana which do not designate a principal agent. In these cases, the secretary of state will become the non-reporting insurance company's principal agent for taxation purposes and the appropriate assessment will be allocated to the parish where the Secretary of State's office is located (East Baton Rouge Parish).

AUTHORITY NOTE: Promulgated in accordance with La. Constitution of 1974, Article VII, Section 21, R.S. 47:1709, R.S. 47:1837 and R.S. 47:2323.

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.