Colorado § 10-5-111.5 Allocation of premium tax

Colorado Statutes

§ 10-5-111.5 — Allocation of premium tax

Colorado § 10-5-111.5

Title 10Insurance

Art.Nonadmitted Insurance

This text of Colorado § 10-5-111.5 (Allocation of premium tax) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-5-111.5 (2026).

Text

(1)In determining the amount of tax payable to Colorado, the entire amount of tax payable at a rate of three percent on the net premiums is presumed to be owed to Colorado; except that, for those multistate risks involving states that have entered into either a compact or a tax-sharing agreement with Colorado to share the tax, the premium tax rate and the amounts allocated to the other states are subject to determination according to the terms of the compact or agreement.

(2)The commissioner may participate in tax-sharing agreements to collect and disburse funds in accordance with subsection (1) of this section, if the purposes of the tax-sharing agreement are limited to:

(a)Facilitating the payment and allocation of premium taxes on nonadmitted insurance for multistate risks

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(1) In determining the amount of tax
payable to Colorado, the entire amount of tax payable at a rate of three percent on
the net premiums is presumed to be owed to Colorado; except that, for those
multistate risks involving states that have entered into either a compact or a tax-sharing agreement with Colorado to share the tax, the premium tax rate and the
amounts allocated to the other states are subject to determination according to the
terms of the compact or agreement.

(2) The commissioner may participate in tax-sharing agreements to collect
and disburse funds in accordance with subsection (1) of this section, if the purposes
of the tax-sharing agreement are limited to:

(a) Facilitating the payment and allocation of premium taxes on nonadmitted
insurance for multistate risks among states participating in the agreement;

(b) Adopting uniform requirements, forms, and procedures that facilitate the
reporting, payment, collection, and allocation of premium taxes for nonadmitted
insurance for multistate risks;

(c) Coordinating the reporting of premium taxes and transaction data of
multistate risks among the states participating in the agreement; and

(d) Establishing a mechanism to facilitate the receipt and distribution of
premium taxes and transaction data related to nonadmitted insurance of multistate
risks.