Texas § IN.226.053 - TAX IMPOSED
Full text of Texas The Texas Constitution § IN.226.053 — TAX IMPOSED, with citation guidance and answers to common questions.
§ IN.226.053. TAX IMPOSED
TAX IMPOSED; RATE. (a) A tax is imposed on each insured at the rate of 4.85 percent of the premium paid for the insurance contract procured in accordance with Section 226.052 . (b) If an independently procured insurance policy covers risks or exposures only partially located in this state and this state has not joined a cooperative agreement, reciprocal agreement, or compact with another state for the allocation of nonadmitted insurance taxes as authorized by Chapter 229 , the tax is computed on the entire policy premium for any policy in which this state is the home state of the insured. (b-1) Repealed by Acts 2011, 82nd Leg., 1st C.S., Ch. 4, Sec. 18.11(2), eff. September 28, 2011. (c) Premiums for individual life or individual disability insurance are not included in determining an insured's taxable premiums. (d) If this state enters into a cooperative agreement, reciprocal agreement, or compact with another state for the allocation of nonadmitted insurance taxes as authorized by Chapter 229 , the tax due on multistate policies shall be allocated and reported in accordance with the agreement or compact. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005. Amended by: Acts 2007, 80th Leg., R.S., Ch. 932 (H.B. 3315 ), Sec. 9, eff. June 15, 2007. Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1 ), Sec. 18.09, eff. September 28, 2011. Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1 ), Sec. 18.11(2), eff. September 28, 2011.
Frequently Asked Questions About Texas § IN.226.053
What does The Texas Constitution § IN.226.053 cover?
Section IN.226.053 ("TAX IMPOSED") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § IN.226.053?
A common citation format is "The Texas Constitution § IN.226.053" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.226.053 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.