Insurance-surplus lines.

12LSO-0015.C1

                                                         

FISCAL NOTE

 

 

The fiscal impact is indeterminable.

 

The bill provides for timely reporting and payment of taxes on surplus lines insurance procured, continued or renewed in Wyoming on risks or exposures located or to be performed in this state.  Late filing of required reports is subject to a fine of $25.00 per day for each day the report is past due.  In addition, delinquent taxes are subject to interest at a rate of 9% per year.   

 

The amount of revenue generated by the late filing fees or interest on delinquent taxes is unknown, and depends on the compliance of those required to submit reports and timely pay taxes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

(Information provided by Stephanie Bryant McGee, Insurance Department  Phone: 777-6896)