Utah § 31A-3-301 Tax imposed on surplus lines insurance transactions.

Utah Statutes

§ 31A-3-301 — Tax imposed on surplus lines insurance transactions.

Utah § 31A-3-301

Title 31AInsurance Code

Ch. 31A-3Department Funding, Fees, and Taxes

Part 31A-3-3Taxation of Surplus Lines, Illegal Transactions, and Captive Insurance Companies

This text of Utah § 31A-3-301 (Tax imposed on surplus lines insurance transactions.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 31A-3-301 (2026).

Text

(1)(1)(a) An insurance transaction under Section 31A-15-103 is subject to a tax of 4-1/4% of gross premiums, less 4-1/4% of return premiums paid to insureds by reason of policy cancellations or premium reductions.

(1)(b) "Gross premium," for a surplus lines insurance transaction, means the monetary consideration for an insurance policy including the fees charged to the insured, however designated.

(2)The tax imposed by this section does not apply to:

(2)(a) ocean marine insurance;

(2)(b) insurance premiums paid by institutions of higher education listed in Section 53H-1-102; or

(2)(c) annuities.

(3)The department shall deposit a tax imposed by this section into the General Fund.

(4)(4)(a) A county, city, or municipality within the state may not impose an occupation tax or other tax or

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(1) (1)(a) An insurance transaction under Section 31A-15-103 is subject to a tax of 4-1/4% of gross premiums, less 4-1/4% of return premiums paid to insureds by reason of policy cancellations or premium reductions.
(1)(b) "Gross premium," for a surplus lines insurance transaction, means the monetary consideration for an insurance policy including the fees charged to the insured, however designated.
(2) The tax imposed by this section does not apply to:
(2)(a) ocean marine insurance;
(2)(b) insurance premiums paid by institutions of higher education listed in Section 53H-1-102; or
(2)(c) annuities.
(3) The department shall deposit a tax imposed by this section into the General Fund.
(4) (4)(a) A county, city, or municipality within the state may not impose an occupation tax or other tax or fee on a surplus lines insurance transaction.
(4)(b) Notwithstanding Subsection (4)(a), an insurer, producer, or policyholder may be subject to other taxes not described in Subsection (4)(a).