§ 32-55. Tax levied upon businesses engaged in property insurance.

(a)

There is hereby assessed, imposed and levied on every insurance company, corporation or other insurer now engaging in or carrying on, or which shall hereafter engage in or carry on, the business of property insurance, as shown by the records of the office of insurance regulation of the financial services commission of the state, an excise or license tax in addition to any business tax or excise tax now levied by the town, which tax shall be in the amount of 1.85 percent of the gross amount of receipts of premiums from policyholders on all premiums collected on property insurance policies covering property within the corporate limits of the town.

(b)

The license or excise tax herein levied shall be due and payable annually on March 1 of each year.

(Code 1967, § 24-27; Code 1999, § 22-36; Ord. No. 62-88, § 2, 12-6-1988)

State law reference

Authority for this section, F.S. § 175.101.