Retaliatory Taxes - Taxes or Licenses & Fees?

[PattyB-N]

Wondering how companies book retaliatory taxes - are they considered licenses and fees or premium taxes? Thanks!

[Glenn]

Hello Patty,
The quick short answer : premium taxes

However, you must follow state statutes and guidelines. The NAIC issues an updated Retaliation Guideline Handbook each year covering the states regulations.

See link below:
https://www.naic.org/prod_serv/RET-ZU-19-02.pdf

also check this out. It is a large document.

https://www.naic.org/prod_serv/RET-ZU-19-01.pdf

Regards,
Glenn Sackett

[PattyB-N]

Thank you!