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131st MAINE LEGISLATURE |
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LD 1979 |
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LR 2570(03) |
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An Act Regarding
Surplus Lines Insurance Tax |
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Fiscal Note for
Bill as Engrossed with:
C "A" (H-689) |
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Committee: Taxation |
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| Fiscal Note |
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Minor cost increase - General Fund
Minor revenue decrease - General Fund |
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| Fiscal Detail
and Notes |
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This bill removes
the imposition of a higher rate of tax on premiums for direct insurance and
annuity considerations for insurers that are incorporated outside of the
State. Additional costs to the Department of Administrative and Financial
Services, Bureau of Revenue Services to implement this change are expected to
be minor and can be absorbed within existing budgeted resources. General Fund
revenue is expected to decrease by minor amounts. |
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