What Is The Future Of The Multi-State Allocation Of Nonadmitted Premium Tax Revenue?

Carlton Fields
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In the portion of the Dodd-Frank Act known as the Nonadmitted and Reinsurance Reform Act, Congress established a public policy and stated its desire that “each State adopt nationwide uniform requirements, forms, and procedures, such as an interstate compact, which provide for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance ….” 15 U.S.C. § 8201(b)(4) . In a Special Focus article we provide an update on the lack of progress made by the states towards this goal.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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