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7 LONG TITLE
8 General Description:
9 This bill amends the Insurance Code regarding license fees and taxes.
10 Highlighted Provisions:
11 This bill:
12 ▸ amends the Insurance Code regarding license fees and taxes.
13 Money Appropriated in this Bill:
14 None
15 Other Special Clauses:
16 None
17 Utah Code Sections Affected:
18 AMENDS:
19 31A-3-102, as last amended by Laws of Utah 2017, Chapter 168
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21 Be it enacted by the Legislature of the state of Utah:
22 Section 1. Section 31A-3-102 is amended to read:
23 31A-3-102. Exclusive fees and taxes.
24 (1) The following are in place of any other license fee or license assessment that might
25 otherwise be levied against a licensee by the state or a political subdivision of the state:
26 (a) subject to Subsection (4), taxes and fees under this chapter;
27 (b) the premium taxes under Title 59, Chapter 9, Taxation of Admitted Insurers;
28 (c) the fees under Section 31A-31-108; and
29 (d) the examination costs under Section 31A-2-205.
30 (2) The following are not subject to Title 59, Chapter 7, Corporate Franchise and
31 Income Taxes:
32 (a) an insurer that is subject to premium taxes under Title 59, Chapter 9, Taxation of
33 Admitted Insurers, regardless of whether the insurance company has a tax liability under that
34 chapter;
35 (b) an insurance company that engages in a transaction that is subject to taxes under
36 Section 31A-3-301 or 31A-3-302, regardless of whether the insurance company has a tax
37 liability under that section; and
38 (c) a captive insurance company as provided in Section 31A-3-304 that pays a fee
39 imposed under Section 31A-3-304.
40 (3) Unless otherwise exempt, a licensee under this title is subject to real and personal
41 property taxes.
42 (4) A tax or fee under this chapter is not in place of a tax or fee a municipality or
43 county imposes in accordance with Section 10-1-203 or 17-53-216.