Ohio § 5725.18

§ 5725.18.

(A) An annual franchise tax on the privilege of being an insurance company is hereby

levied on each domestic insurance company.  In the month of May, annually, the treasurer of state shall charge for collection

from each domestic insurance company a franchise tax in the amount computed in accordance

with the following, as applicable: (1) With respect to a domestic insurance company that is a health insuring corporation,

one per cent of all premium rate payments received, exclusive of payments received

under the medicare program and exclusive of payments received pursuant to the medicaid

program for the period ending September 30, 2009, as reflected in its annual report

for the preceding calendar year; (2) With respect to a domestic insurance company that is not a health insuring corporation,

one and four-tenths per cent of the gross amount of premiums received from policies

covering risks within this state, exclusive of premiums received under the medicare

program and exclusive of payments received pursuant to the medicaid program for the

period ending September 30, 2009, as reflected in its annual statement for the preceding

calendar year, and, if the company operates a health insuring corporation as a line

of business, one per cent of all premium rate payments received from that line of

business, exclusive of payments received under the medicare program and exclusive

of payments received pursuant to the medicaid program for the period ending September

30, 2009, as reflected in its annual statement for the preceding calendar year. Domestic insurance companies, including health insuring corporations, receiving payments

pursuant to the medicaid program during the period beginning October 1, 2009, and

ending December 31, 2009, shall file with the 2009 annual statement to the superintendent

a schedule that reflects those payments received pursuant to the medicaid program

for that period.  The payments reflected in the schedule, plus all other taxable premiums, are subject

to the annual franchise tax due to be paid in 2010. (B) The gross amount of premium rate payments or premiums used to compute the applicable

tax in accordance with division (A) of this section is subject to the deductions prescribed

by division (B) of section 5729.02 and section 5729.03 of the Revised Code for foreign insurance companies.  The objects of such tax are those declared in section 5725.24 of the Revised Code , to which only such tax shall be applied. (C) In no case shall such tax be less than two hundred fifty dollars.