Search
 

Legislative update: Taxation uniformity remains critical issue

Uniformity of taxation of the surplus lines market remains the key regulatory and legislative goal of the National Association of Surplus Lines Offices Ltd. (NAPSLO), according to NAPSLOs Legislative Committee.

By Arthur D. Postal | Updated on September 15, 2014

Uniformity of taxation of the surplus lines market remains the key regulatory and legislative goal of the National Association of Surplus Lines Offices Ltd. (NAPSLO), according to NAPSLO’s Legislative Committee.

Just four years after the landmark Nonadmitted and Reinsurance Reform Act (NRRA) was enacted by Congress in 2010, “NAPSLO believes that the only viable and uniform national solution is for all states to tax and retain all U.S. non-admitted written premiums at their home state tax rate,” said Lana S. Parks, president of the Parks Group, Arlington, Tex., co-chair of the NAPSLO Legislative Committee. “This brings efficiency, clarity and uniformity to the surplus lines transaction.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.