Annuity premium tax repeal.

11LSO-0339.L1

FISCAL NOTE

	FY 2012	FY 2013	FY 2014
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Decrease:
GENERAL FUND	($600,000)	($600,000)	(600,000)

Source of Revenue Decrease:

The bill proposes to eliminate the premium taxes collected on considerations for annuity contracts issued in Wyoming.  The current tax rate is 1%. 

Assumptions:

Based on a sampling of 90% of the premium volume for considerations for annuity contracts issued in Wyoming in 2009, the reduction in revenues from elimination of this premium tax is approximately $600,000 per year.

The amount of the estimated revenue may vary as the sales of annuity contracts are affected by the market place.  The most current financial information available at this time is for reporting year 2009.

Prepared by:   Kelley Shepp, LSO Phone: 777-7881

(Information provided by: Linda L. Johnson, Insurance Dept.

Phone: 777-5619)