INSURANCE CODE
CHAPTER 255. WORKERS' COMPENSATION INSURANCE
§ 255.001. MAINTENANCE TAX IMPOSED. (a) A maintenance
tax is imposed on each authorized insurer with gross premiums
subject to taxation under Section 255.003, including a:
(1) stock insurance company;
(2) mutual insurance company;
(3) reciprocal or interinsurance exchange; and
(4) Lloyd's plan.
(b) The tax required by this chapter is in addition to other
taxes imposed that are not in conflict with this chapter.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
§ 255.002. MAXIMUM RATE; ANNUAL ADJUSTMENT. (a) The
rate of assessment set by the commissioner may not exceed 0.6
percent of the gross premiums subject to taxation under Section
255.003.
(b) The commissioner shall annually adjust the rate of
assessment of the maintenance tax so that the tax imposed that year,
together with any unexpended funds produced by the tax, produces
the amount the commissioner determines is necessary to pay the
expenses during the succeeding year of regulating workers'
compensation insurance.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
§ 255.003. PREMIUMS SUBJECT TO TAXATION. (a) An
insurer shall pay maintenance taxes under this chapter on the
correctly reported gross workers' compensation insurance premiums
from writing workers' compensation insurance in this state,
including the modified annual premium of a policyholder that
purchases an optional deductible plan under Article 5.55C.
(b) The rate of assessment shall be applied to the modified
annual premium before application of a deductible premium credit.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
§ 255.004. MAINTENANCE TAX DUE DATES. (a) The insurer
shall pay the maintenance tax annually or semiannually.
(b) The comptroller may require semiannual payment only
from an insurer whose maintenance tax liability under this chapter
for the previous tax year was at least $2,000.
Added by Acts 2003, 78th Leg., ch. 1274, § 1, eff. April 1, 2005.
