DAR File No. 42438
This notice was published in the February 1, 2018, issue (Vol. 2018, No. 3) of the Utah State Bulletin.
Insurance, Administration
Rule R590-157
Surplus Lines Insurance Premium Tax and Stamping Fee
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 42438
Filed: 01/04/2018 01:01:53 PM
NOTICE OF REVIEW AND STATEMENT OF CONTINUATION
Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:
Subsection 31A-3-303(2) requires the Insurance Commissioner to write rules to prescribe accounting and reporting forms and procedures to be used in calculating and paying the surplus lines premium tax. Subsection 31A-15-103(11)(d) requires the Insurance Commissioner to write rules to specify the stamping fee amount and how it is to be collected.
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
The Department of Insurance has received no written comments regarding this rule during the past five years.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
This rule provides procedures and reporting forms to be used by insurers, brokers, and policyholders in calculating tax due. As a result of the regulation, all who charge the tax use the same calculation to determine the amount of the fee. It makes the payment uniform and fair. Therefore, this rule should be continued.
The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:
InsuranceAdministration
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY, UT 84114-1201
Direct questions regarding this rule to:
- Steve Gooch at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at sgooch@utah.gov
Effective:
01/04/2018
Authorized by:
Steve Gooch, Information Specialist
Additional Information
More information about a Five-Year Notice of Review and Statement of Continuation is available online.
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull_pdf/2018/b20180201.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.
For questions regarding the content or application of this rule, please contact Steve Gooch at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at sgooch@utah.gov. For questions about the rulemaking process, please contact the Office of Administrative Rules.