Exempts premiums for property and casualty insurance policies covering school districts from annual license or privilege tax.
Mississippi HB1689 amends the Mississippi Code to exclude premiums on property and casualty insurance coverage for school districts from the annual license or privilege tax levied on both foreign and domestic insurance carriers. This exemption applies to premiums collected for coverage under policies issued by the carrier for the school district. The bill also includes provisions for retaliatory taxes and adjustments to tax rates based on court adjudications.
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