- A. A captive reinsurance company shall pay to the Department, by March 1 of each year, a captive reinsurance tax of Five Thousand Dollars ($5,000.00).
- B. The tax provided in this section is the only tax collectible pursuant to the laws of this state from a captive reinsurance company, and no tax on reinsurance premiums, other than occupation tax, nor any other taxes may be levied or collected from a captive reinsurance company by the state or a county, city, or municipality within this state, except ad valorem taxes on real and personal property used in the production of income.
- C. A captive reinsurance company failing to make returns or to pay all taxes required by this section is subject to sanctions provided in the Oklahoma Insurance Code.
Laws 2004, HB 2141, c. 334, § 27, emerg. eff. May 25, 2004.