What Does State Taxation of Insurance Mean?

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What does State Taxation of Insurance mean? Read on to discover the definition & meaning of the term State Taxation of Insurance - to help you better understand the language used in insurance policies.

State Taxation of Insurance

State Taxation of Insurance

Insurance companies in almost every single state are taxed by their state government. State governments tax insurance companies primarily through a tax called a "premium tax." This is a tax imposed on an insurance company based on the amount of premiums that it collects in a year.

We hope the you have a better understanding of the meaning of State Taxation of Insurance.

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