DOMICILE ROUNDUP
Captive tax rate ALA. Code 27-31B-16 See Ark. Code Ann. § 23-63-1614.
Minimum capitalisation rate
Pure- $250,000; Association- $750,000; Industrial Insured- $500,000; Sponsored- $1,000,000
Please see Ark. Code Ann. § 23-63- 1604 and § 23-63-1605 for capital and surplus requirements.
None
Pure Captive -$250,000; Association or Industry Group - $500,000; Risk Retention Group - $500,000; Agency Captive - $500,000; Protected Cell - $500,000 and Pure Reinsurers - one- half of the above indicated amounts
Tax on direct premium: 0.380% on first $20 million; 0.285% on next $20 million; 0.190% on next $20 million; 0.072% thereafter. Premium taxes are subject to a minimum of $7,500 per year and a maximum of $200,000 per year. Tax rate on reinsurance premiums: 0.214% on first $20 million, 0.143% on next $20 million, 0.048% on next $20 million and 0.024% over $60 million
Direct premium: two-tenths of 1% with a minimum tax of $5,000 & maximum of $125,000. Assumed reinsurance: one- tenth of 1% with a minimum tax of $5,000 and a maximum of $75,000.
150% on $25 million to $50 million of direct premium
Pure captive: $250,000, associate captive $500,000, industrial insured captive: $500,000, risk retention group $1 million, sponsored captive $500,000, special purpose financial captive $250,000, sponsored captive licensed as a special purpose financial captive $500,000 and branch captive $250,000.
$250,000
Licensing fees
$200 application fee and $300 licence fee.
Original application fee is $500, Issue License fee of $300. There is also the additional cost of an actuarial review (See Rule 73). License Renewal Fee $300.
Initial License - $1,000; Examiner Revolving Fund - $100; Original Charter Documents - $75; Articles of Incorporation - $60 (payable to AZ Corporation Commission); and Captive Renewal License - $5,500.
Non-refundable application fee of $800. Additional costs associated with processing the application may be billed. Fee for initial license, $375. Annual license renewal fee: $375.
Industry sectors best represented in the domicile
Diversified N/A
Number of single- parent captives
Seven None
Number of group captives
Three None
Healthcare and Social Assistance, Construction, Finance, Insurance, Transportation and Manufacturing.
N/A
We have 74 single- parent captives
N/A
We have 18 RRGs, 2 Industry Groups and 2 Association Captives
N/A
Application fee: $200; processing fee: $3,000; and annual renewal fee of $300.
Pure: $100,000 capital and $150,000 surplus; association: $100,000 capital and $300,000 surplus; rental: $100,000 capital and $300,000 surplus; agency: $100,000 capital and $300,000 surplus; protected cells: amount to be determined by the Commissioner.
Application fee-$500; Initial license fee at time of application-$300, and Annual license renewal fee-$300;
Closely held businesses
73
22
Nursing homes and physicians. 32
36
0.25% on premiums from $0 up to $25 million; 0.15% on premiums from $25 million up to $50 million; 0.05% on premiums from $50 million up to $250 million; 0.00% on premiums of more than $250 million. No minimum premium tax. Maximum premium tax of $200,000. No taxation of captive premiums if premiums were previously subjected to tax in jurisdiction where underlying risk is located, or on reinsurance premiums assumed by captive.
Class 1 - $100,000; Class 2 - $250,000; Class 3 - $500,000; Class 4 - $1,000,000; and Class 5 - as determined by Insurance Commissioner.
Initial Incorporation Fee: $50; Annual Business Registration Fee: $15; Captive Application Fee: $1,000; Captive Annual License Fees: Class 1 and 2 - $300, Class 3 - $500 and Class 4 and 5 - $1,000
Construction / Real Estate: 55 Health Care: 28
Telecommunications & Manufacturing: 30 Retail & Other Services: 23 Financial Services: 18 Transportation / Energy: 18 A total of 172 captives
149
19
Same tax as any domestic insurer.
No less than $2 million
$7,000
N/A
One
None
2% of premiums received, subject to certain credits
Pure captive: capital - $100,000 and surplus - $150,000; Industrial Insured: capital - $200,000 and surplus - $300,000; Mutual Industrial Insured: surplus - $500,000
$500 Exam/Process and $110 Certificate of Registration
N/A
One
None
CICA | Forty years of captive leadership
89
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132