Types of Taxes and Charges

Types of Tax and Charges (G.S. 105-228.4A, G.S. 105-228.5, G.S 58-6-25)

There are several types of insurance premium tax applied, according to the type of insurance company and the type of insurance written. Gross Premium Tax, Additional Tax on Property Coverage Contracts, and Retaliatory Tax are types of insurance premium tax reported. Tax rates, according to the type of insurance written, apply to each type of tax. Premium tax return forms to be used in filing premium tax returns are available on the Department’s website. Other sources of the forms, if used, must obtain prior approval. Supplemental schedules as required by the Department of Revenue must be attached to all returns filed.

Insurers taxed under G.S. 105-228.5, Article 65 corporations, health maintenance organizations, and self-insurers are required to pay an Insurance Regulatory Charge in addition to all other fees and taxes. The Insurance Regulatory Charge is a percentage of the gross premium tax liability, exclusive of any additional taxes imposed by G.S. 105-228.8, any credits allowed under G.S. 105-228.5A or G.S. 97-133(a), and any other credits allowed under Chapter 105 of the General Statutes, for the taxable year. The insurance regulatory charge does not apply to captive insurance companies taxed under G.S. 105-228.4A.