Insurance Premium Tax (Licensed Insurers)
A tax is imposed on all insurers and health maintenance organizations that are licensed by the Texas Department of Insurance.
Property and Casualty insurers: 1.6% (.016)
Life, Accident and Health insurers, including Health Maintenance Organizations (HMO): 1.75% (.0175) A half tax rate of .875% (.00875) is due on the first $450,000 of life insurance or HMO premium.
Title insurers: 1.35% (.0135)
Reciprocal or Interinsurance Exchanges: 1.7% (.017)
Yearly: March 1 following the end of the calendar year.
Semi-Annual prepayments: March 1 and August 1 of each year.