Form 25-202 - Worksheet To Determine The Premium Tax Rate Using The Total Texas Investments To Total Similar Investments Of Comparison State (Property And Casualty)

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Comptroller

25-202

of Public

Accounts

(1-94)

FORM

WORKSHEET TO DETERMINE THE PREMIUM TAX RATE USING THE TOTAL TEXAS INVESTMENTS

TO TOTAL SIMILAR INVESTMENTS OF COMPARISON STATE (PROPERTY AND CASUALTY)

Complete this worksheet and file it with your "Texas Annual Insurance Premium Tax Report," form 25-100.

Taxpayer number

Tax year

Taxpayer name

Column A

Column B

Column C

Column D

Column E

Column F

QTR 1

QTR 2

QTR 3

QTR 4

Average

TEXAS INVESTMENTS

3/31

6/30

9/30

12/31

Total

(Column E divided by 4)

1. Bonds, warrants, and interest-bearing indebtedness issued by the State:

(a) States, territories and possessions ...............

$ _______________

$ ______________

$ _______________

$ ________________

(b) Political subdivisions .....................................

_______________

______________

_______________

________________

_______________

______________

_______________

________________

2. Mortgage obligations (notes or bonds secured by

mortgages or deeds of trust on real property ) ....

_______________

______________

_______________

________________

3. Average daily balance of cash on deposit

(a) Cash in banks ..............................................................................................................................................................................................................................................

________________

(b) Negotiable and non-negotiable certificates of deposit (state and national banks, federal savings and loan associations) ........................................................................

________________

4. TOTAL (add column F items 1a, 1b, 1c, 2, 3a and 3b) .....................................................................................................................................................................................

_________________

SIMILAR INVESTMENTS OF COMPARISON STATE (Comparison state must be identified.) ________________________

5. Bonds, warrants, and interest-bearing indebtedness issued by the State:

(a) States, territories and possessions ...............

$ _______________

$ ______________

$ _______________

$ ________________

(b) Political subdivisions .....................................

_______________

______________

_______________

________________

_______________

______________

_______________

________________

6. Mortgage obligations (notes or bonds secured by

mortgages or deeds of trust on real property ) ....

_______________

______________

_______________

________________

7. Average daily balance of cash on deposit

________________

(b) Negotiable and non-negotiable certificates of deposit (state and national banks, federal savings and loan associations) ........................................................................

________________

8. TOTAL (add column F items 5a, 5b, 5c, 6, 7a and 7b) .....................................................................................................................................................................................

_________________

9. INVESTMENT RATIO–Percent of Texas investments to similar investments

(Divide item 4 column F by item 8 column F and multiply by 100. Round to the nearest hundredth.)

(Enter the Investment Ratio on the premium tax report, form 25-100, item 20b.).............................................................................................................................................

_________________ %

10. PREMIUM TAX RATE* (Enter here in decimal form and on the premium tax report, form 25-100, item 20.) .................................................................................................

_________________

*ARTICLE 4.10, TEXAS INSURANCE CODE

The lower tax rate is determined by the percentage of Texas investments to total similar investments of comparison state:

If item 9 is less than 85%, use 3.5% (.035) for the premium tax rate.

If item 9 is 85% through 90%, use 2.4% (.024) for the premium tax rate.

If item 9 is more than 90% use 1.6% (.016) for the premium tax rate.