Arizona § 20-692 - Premium tax offset
Full text of Arizona Arizona Revised Statutes § 20-692 — Premium tax offset, with citation guidance and answers to common questions.
§ 20-692. Premium tax offset
A. The board shall issue to each member insurer paying an assessment pursuant to this article a certificate of contribution, in a form prescribed by the director for the amount paid. All outstanding certificates shall be of equal dignity and priority without reference to amounts or dates of issue.
B. A certificate of contribution issued to a member insurer shall be offset against its premium tax liability to this state in the amount of twenty percent of the assessment for the year of assessment and twenty percent of the assessment per year for each of the succeeding four years.
C. Notwithstanding subsection B of this section, the total amount a member insurer may offset against its premium tax liability pursuant to a certificate of contribution that is issued from 1987 through 1994 shall not exceed the following percentage amounts for each certificate of contribution, except that in no event may the total amount of the offset exceed one hundred percent of each assessment:
1. For 1991, seven percent.
2. For 1992, nine percent.
3. For 1993, eleven percent.
4. For 1994, thirteen percent.
D. A member insurer may not offset its premium tax liability by any amount unless the assessment for which the first year credit is claimed was collected by the guaranty fund in the calendar year for which the insurer seeks to offset its taxes.
E. Beginning in 1995, the total amount that a member insurer may offset against its premium tax liability pursuant to a certificate of contribution shall be as provided in subsection B of this section, except that in no event shall the total amount of the offset exceed one hundred percent of the assessment.
Frequently Asked Questions About Arizona § 20-692
What does Arizona Revised Statutes § 20-692 cover?
Section 20-692 ("Premium tax offset") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 20-692?
A common citation format is "Arizona Revised Statutes § 20-692" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 20-692 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.