KRS 136.330: Tax on premium receipts life insurance company -- Exception.

(1) Every life insurance company doing business in this state, other than fraternal

assessment life insurance companies, shall, by March 1 of each year, return to the

Department of Revenue a statement under oath of all premium receipts on business

done in this state during the preceding calendar year or since the last return was

made. "Premium receipts" includes single premiums, annuity premiums, premiums

received for original insurance, premiums received for renewal, revival or

reinstatement of the policies, annual and periodical premiums, dividends applied for

premiums and additions, and all other premium payments received on policies that

have been written in this state, or on the lives of residents of this state, or out of this

state on business done in this state, less returned premiums. No deduction shall be

made for dividends on life insurance or annuity policies, but dividends on accident

and health insurance policies may be deducted. Premium receipts shall not include

annuity premiums or annuity dividends beginning in calendar year 2000.

(2) (a) An annual tax on premium receipts shall be imposed against every company

making a return under this subsection for calendar years beginning before

2000 at a rate of two dollars ($2) upon each one hundred dollars ( $100) of

premium receipts.

(b) An annual tax on premium receipts shall be imposed against every company

making an election pursuant to KRS 136.335 to be taxed under this section,

and every company making a return under this section, for calendar years

beginning in 2000 as follows:

1. For calendar year 2000, one dollar and ninety cents ($1.90) upon each

one hundred dollars ($100) of premium receipts;

2. For calendar year 2001, one dollar and eighty cents ($1.80) upon each

one hundred dollars ($100) of premium receipts;

3. For calendar year 2002, one dollar and seventy cents ($1.70) upon each

one hundred dollars ($100) of premium receipts;

4. For calendar year 2003, one dollar and sixty cents ($1.60) upon each one

hundred dollars ($100) of premium receipts; and

5. For calendar year 2004 and each calendar year thereafter, one dollar and

fifty cents ($1.50) on each one hundred dollars ($100) of premium

receipts.

(3) The health insurance contract or contracts for state employees as authorized by KRS

18A.225 shall not be subject to taxation under this section.