Montana SB60 revises insurance premium taxes for certain captive insurers.
Montana SB60 revises the tax structure for captive insurers, including protected cell and special purpose captive insurance companies. The bill adjusts the proration of taxes for these insurers when they are first authorized or surrender their certificates of authority. It also modifies the tax rates for direct premiums and reinsurance premiums, setting specific percentages for different tiers of premiums collected. The changes apply to tax years beginning after December 31, 2025.
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