Rhode Island § 27-34.3-13 § 27-34.3-13. Credits for assessments paid (tax offsets).

Rhode Island Statutes

§ 27-34.3-13 — § 27-34.3-13. Credits for assessments paid (tax offsets).

Rhode Island § 27-34.3-13

Title 27Insurance

Ch. 27-34.3Rhode Island Life and Health Insurance Guaranty Association Act

This text of Rhode Island § 27-34.3-13 (§ 27-34.3-13. Credits for assessments paid (tax offsets).) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 27-34.3-13 (2026).

Text

§ 27-34.3-13. Credits for assessments paid (tax offsets).
(a) A member insurer may offset against its premium, franchise or income tax liability
            (or liabilities) to this state an assessment described in § 27-34.3-9(h) to the extent of ten percent (10%) of the amount of the assessment for each of the
            five (5) calendar years following the year in which the assessment was paid. In the
            event a member insurer should cease doing business, all uncredited assessments may
            be credited against its premium, franchise, or income tax liability (or liabilities)
            for the year it ceases doing business.
         
(b) Any sums that are 

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§ 27-34.3-13. Credits for assessments paid (tax offsets).

(a) A member insurer may offset against its premium, franchise or income tax liability (or liabilities) to this state an assessment described in § 27-34.3-9(h) to the extent of ten percent (10%) of the amount of the assessment for each of the five (5) calendar years following the year in which the assessment was paid. In the event a member insurer should cease doing business, all uncredited assessments may be credited against its premium, franchise, or income tax liability (or liabilities) for the year it ceases doing business.

(b) Any sums that are acquired by refund, pursuant to § 27-34.3-9(f), from the association by member insurers, and that have been offset against premium, franchise or income taxes as provided in subsection (a) of this section, shall be paid by the insurers to this state in any manner that the tax authorities may require. The association shall notify the commissioner that refunds have been made.