Iowa § 432A.1 Amount of tax on underwriting profit

Iowa Statutes

§ 432A.1 — Amount of tax on underwriting profit

Iowa § 432A.1

Title XFINANCIAL RESOURCES

Ch. 432AMARINE INSURANCE TAX

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Bluebook

Iowa Code § 432A.1 (2026).

Text

Every insurer authorized to do the business of selling marine insurance in this state, as
authorized in section 515.48, shall, with respect to all insurance written within this state upon
hulls, freights, or disbursements, or upon goods, wares, merchandise and all other personal
property and interests therein, in the course of exportation from or importation into any
country, or transportation coastwise including transportation by land or water from point
of origin to final destination in respect to or appertaining to or in connection with, any and
all risks or perils of navigation, transit or transportation and upon the property while being
prepared for and while awaiting shipment, and during any delays, storage, transshipment
or reshipment incident thereto, including war risks and marine

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Every insurer authorized to do the business of selling marine insurance in this state, as
authorized in section 515.48, shall, with respect to all insurance written within this state upon
hulls, freights, or disbursements, or upon goods, wares, merchandise and all other personal
property and interests therein, in the course of exportation from or importation into any
country, or transportation coastwise including transportation by land or water from point
of origin to final destination in respect to or appertaining to or in connection with, any and
all risks or perils of navigation, transit or transportation and upon the property while being
prepared for and while awaiting shipment, and during any delays, storage, transshipment
or reshipment incident thereto, including war risks and marine builder’s risks, pay a tax of
six and one-half percent on its taxable underwriting profit ascertained as provided in section
432A.2, from such insurance written within this state.