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Committee hears proposal to remove $100,000 premium tax cap for certain captive insurers
Summary
Senate Bill 60 would eliminate a $100,000 premium tax cap for a specific series business structure of captive insurers domiciled in Montana. The Commissioner of Securities and Insurance and industry representatives said the change would equalize tax treatment after a 2019 change removed the cap for protected cell captives.
Senate Bill 60 was presented to the House Business and Labor Committee to remove a $100,000 cap on premium tax for a certain form of captive insurer organization described in testimony as “series business unit” captives (often called series or “series business unit structures”).
Sen. Nol…
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