Tennessee § 56-45-110 Premium taxes - Rate - Entity responsible for payment

Tennessee Statutes

§ 56-45-110 — Premium taxes - Rate - Entity responsible for payment

Tennessee § 56-45-110

Title56

This text of Tennessee § 56-45-110 (Premium taxes - Rate - Entity responsible for payment) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 56-45-110 (2026).

Text

Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing groups shall be:

(1)Imposed at the same rate and subject to the same interest, fines and penalties as applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds; and (2) Paid first by the insurance source, and, if not by the source, by the agent or broker for the purchasing group, and, if not by the agent or broker, then by the purchasing group, and, if not by the purchasing group, then by each of its members.

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Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing groups shall be: (1) Imposed at the same rate and subject to the same interest, fines and penalties as applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds; and (2) Paid first by the insurance source, and, if not by the source, by the agent or broker for the purchasing group, and, if not by the agent or broker, then by the purchasing group, and, if not by the purchasing group, then by each of its members.