§ 9105 — Fire insurance premium tax; foreign mutual fire insurance companies

New York § 9105

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 91: Taxes and Fees

Text

§ 9105. Fire insurance premium tax; foreign mutual fire insurance\ncompanies. (a) (1) Every mutual fire insurance company or association\nauthorized to do business in this state pursuant to section four\nthousand one hundred eight of this chapter shall pay to the\nsuperintendent on or before the fifteenth day of February of each year a\ntax of two per centum on all gross premiums collected or received by it\nor them for direct insurance against loss or injury upon property\nsituated within this state during the preceding year ending the\nthirty-first day of December.\n (2) The tax shall be determined after deducting from such gross\npremiums, premiums upon policies not taken; premiums returned on\ncancelled policies; and any dividends or refunds or returns paid to\npolicyholders or applied in part payment of any renewal premium during\nsuch year.\n (b) (1) Every such mutual fire insurance company or association whose\nbusiness is confined chiefly to the insurance of sprinklered risks and\nwhich is conducted solely for the benefit and protection of its members\nand which pays no commissions or brokerages for the acquirement of its\nbusiness, in lieu of all other taxes on premiums, shall pay to the\nsuperintendent on or before the fifteenth day of February of each year a\ntax at the rate of two per centum on all gross premiums upon policies on\nrisks located in this state in force on the thirty-first day of December\nnext preceding.\n (2) The tax shall be determined after deducting from such gross\npremiums the dividends and returns and the unused or unabsorbed portion\nof such gross premiums computed at the average rate of such dividends\nand returns and the unused or unabsorbed portion of such gross premiums\nactually paid to policyholders or applied in part payment of any renewal\npremiums on its annual policy expiring during such year.\n (c) (1) On or before the fifteenth day of February of each year every\nmutual fire insurance company or association shall file with the\nsuperintendent a statement showing the aggregate amount of gross\npremiums collected for insurance against loss or injury and the several\nitems of deduction referred to under paragraph two of subsection (a)\nhereof, and specifying the aggregate amounts of such gross premiums so\ncollected and the deductions therefrom by city, village, fire district,\nfire alarm district, or fire protection district in which the property\ncovered by such insurance is located.\n (2) In the case of a mutual fire insurance company or association\nwhose business is confined chiefly to the insurance of sprinklered risks\nand which is conducted solely for the benefit and protection of its\nmembers and which pays no commissions or brokerages for the acquirement\nof its business, such statement shall, in lieu of the information\nrequired pursuant to paragraph one hereof, specify by city, village,\nfire district, fire alarm district, or fire protection district:\n (A) the aggregate amount of such gross premiums upon policies on risks\nlocated in this state in force at last year-end; and\n (B) the dividends and returns and the unused or unabsorbed portion of\nsuch aggregate amount of gross premiums, computed at the average rate of\nsuch dividends and returns and the unused or unabsorbed portion of such\ngross premiums, actually paid or applied in part payment of any renewal\npremiums on its annual policies expiring during such year.\n (3) Those provisions of this subsection which would require the\ndetermination of the city, village, fire district, fire alarm district\nor fire protection district in which an insured property is located\nshall not apply to policies which insure motor vehicles provided that:\n (A) the mutual fire insurance company or association allocates the\ngross premiums and deductions, subject to the tax required by this\nsection, received from such policies by city, village, fire district,\nfire alarm district or fire protection district using a percentage of\nallocation which is based upon the amounts of all other premiums\nrequired to be reported by this section; and\n (B) the mutual fire insurance company or association has received the\napproval of the superintendent to use this percentage of allocation.\n (d) (1) The amount of all monies which were received by the\nsuperintendent on or before the first day of April in each year under\nthe provisions of this section or section nine thousand one hundred four\nof this article shall be distributed by him not later than the first day\nof July in such year, after adding any earnings resulting from the\ninvestment of such monies and deducting the expenses of collection and\ndistribution. Ten percent of such remaining monies received under this\nsection shall be paid to the treasurer of the Firemen's Association of\nthe State of New York for the support and maintenance of the firemen's\nhome at Hudson, New York, and the balance shall be paid as specified in\nparagraph two hereof, in amounts which will be that proportion of the\nbalance so to be distributed which the total amount of fire insurance\nbusiness written by foreign mutual fire insurance companies on property\nsituated in such locality bears to the total amount of fire insurance\nbusiness written by foreign mutual fire insurance companies on property\nsituated in any and all of the protected localities in the state having\ntreasurers or other fiscal officers as designated in paragraph two\nhereof afforded fire protection by a fire department or fire company and\nupon which the tax provided in this section has been paid.\n (2) Such payment shall be made (A) in the city of New York to the fire\ncommissioner as treasurer of the fire department of the city of New\nYork, and\n (B) to the treasurer or other fiscal officer of the fire department\naffording fire protection in each city, village, fire district, fire\nalarm district, or fire protection district, or\n (C) if any such fire department does not have a treasurer or other\nfiscal officer then to the fiscal officer of the authorities having\njurisdiction and control of such fire department, or\n (D) to such other person or entity as shall be designated in any\nspecial law to receive such tax, and\n (E) if such payment is received by the treasurer or other fiscal\nofficer of a fire department or fiscal officer of authorities having\njurisdiction and control of such fire department, such treasurer or\nfiscal officer shall on or before the fifteenth day of July in each year\ndistribute the amount so received to the fire companies constituting the\nfire department if such fire department is constituted of more than one\nfire company.\n (3) Except as otherwise provided in any special law, and except as to\nthe Firemen's Association of the State of New York, such tax shall be\nused for the benefit of, as determined by the members thereof:\n (A) the fire company receiving the tax, but this shall not preclude\nthe payment by a fire company of all or a part of such tax to the fire\ndepartment of which it is a part, or\n (B) the fire department when such tax is not required under\nsubparagraph (E) of paragraph two of this subsection to be distributed\nto fire companies.\n (e) The provisions of this section shall not be changed, modified or\namended by any charter, local law, ordinance, resolution or regulation.\n