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Senate approves bill clarifying taxation of insurers; debate centers on retroactive charges
Summary
Engrossed House Bill 2487, clarifying tax treatment for insurer affiliates and subjecting non-premium affiliates to business-and-occupation taxation (with retroactive application to 2019), passed in the Senate after debate about fairness and a prior Supreme Court decision; final vote was 27-22.
The Senate on March 11 passed Engrossed House Bill 2487, a measure sponsors described as closing a tax fairness gap by ensuring the premium portion of core insurance activity is taxed under the premium tax while affiliates that do not receive premiums are treated as other corporations for business-and-occupation tax purposes.
Senator Tess Robinson told the chamber the bill "clarifies policy around how…
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