A state controlled tax this is placed on premiums charged by insurance agencies operating within a state, generally these taxes are two to three percent of the total premium
Some states charge a tax on the contributions made to an annuity or life policy. The issuing company generally charges the annuity contract or life policy for any premium tax it pays to the state.
Tax levied against HCC Life and calculated as a percentage of gross premium. This amount is included in the acquisition expenses.
Taxes charged by a state government on the contributions made to an annuity.