Tex.
Ins. Code Section 3504.0004
Premium Tax
(a)
A travel insurer shall pay premium tax, as provided by Section 221.002 (Tax Imposed; Rate), 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 and elects and purchases coverage under a group travel insurance policy; or(3)
a blanket travel insurance policyholder who buys a blanket travel insurance policy for members of an eligible group if:(A)
the policyholder is a resident of this state; or(B)
the policyholder’s principal place of business is located in this state.(b)
A travel insurer shall:(1)
document the state of residence or principal place of business of the policyholder or certificate holder described by Subsection (a); and(2)
report as premium:(A)
only the amount allocable to travel insurance and not amounts received for travel assistance services or cancellation fee waivers; and(B)
only the amount allocable to residents of this state.(c)
Amounts received for travel assistance services and cancellation fee waivers, whether the travel assistance services and cancellation waivers are offered separately or for a combined price authorized by Section 3504.0005 (Travel Protection Plans), are not subject to taxation under Section 221.002 (Tax Imposed; Rate)(b).
Source:
Section 3504.0004 — Premium Tax, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.3504.htm#3504.0004 (accessed Jun. 5, 2024).
