Form Tsb-M-11(7)c - Changes To Article 33-A, Tax On Independently Procured Insurance - New York State Department Of Taxtation And Finance Page 3
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TSB-M-11(7)C, 11(7)I
Corporation Tax
Income Tax
July 5, 2011
under either of the bulleted items above, of the group policyholder. When the group policyholder
does not pay 100% of the premium from its own funds, the home state for purposes of that policy
is the home state, as determined under either of the bulleted items above, of the group member.
The term person means an individual, corporation, partnership, limited liability company,
society, association, joint-stock company, estate, receiver, trustee, assignee, referee, and any
other person acting in a fiduciary capacity, whether appointed by a court or otherwise, and any
combination of the foregoing.
The term principal place of business means, with respect to determining the home state
of the insured:
• the state where the insured maintains its headquarters and where the insured’s high-
level officers direct, control, and coordinate the business activities; or
• if the insured’s high-level officers direct, control, and coordinate the business activities
in more than one state, or if the insured’s principal place of business is located outside
any state, the state to which the greatest percentage of the insured’s taxable premium for
that insurance contract is allocated.
The term principal residence means, with respect to determining the home state of the
insured:
• the state where the insured resides for the greatest number of days during a calendar
year; or
• if the insured’s principal residence is located outside any state, the state to which the
greatest percentage of the insured’s taxable premium for that insurance contract is
allocated.
The term state, as used in Article 21 of the Insurance Law, means the District of
Columbia or any state or territory of the United States.
The term taxable insurance contract means a contract of insurance of the kind described
in Insurance Law section 2105(a). Examples include: fire, miscellaneous property, water
damage, burglary and theft, glass, boiler and machinery, elevator, animal, collision, personal
injury liability, property damage liability, fidelity and surety, credit, motor vehicle and aircraft
physical damage, marine and inland marine, residual value insurance, prize indemnification,
service contract reimbursement, and salary protection insurance.
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