§ 20-1. Insurance tax.

There is hereby levied a license tax as follows:

(1)

On any insurer engaged in the business of issuing life or accident or health insurance policies or other forms of contracts or obligations covering such risks, or issuing endowment or annuity policies, or contracts, or other similar forms of contract obligations in consideration of the payment of a premium or other consideration for the issuance of such policies, contracts or obligations, whether such insurer is operating in the parish through an agent or other representative or otherwise, of not more than $10.00 on gross annual premiums up to $2,000.00 with an additional license thereafter of not more than $70.00 on each $10,000.00, or fraction thereof, of gross annual premiums in excess of $2,000.00; provided that the maximum license on such businesses, payable to the parish by any one insurer, shall not exceed $21,000.00.

(2)

On any insurer engaged in the business of issuing policies, contracts or other forms of obligations covering the risk of fire, marine, transportation, surety, fidelity, indemnity guaranty, workmen's compensation, employer's liability, property damage, livestock, vehicle, automatic sprinkler, burglary or insurance business of any other kind whatsoever in the parish, whether such insurer is operating in this parish through agents or other representatives or otherwise, not more than the following:

a.

First class. When the gross receipts are not more than $2,000.00, the license shall be two percent of the gross receipts, but shall not be less than $10.00.

b.

Second class. When the gross receipts are more than $2,000.00, and not more than $4,000.00, the license shall not exceed $60.00.

c.

Third class. When the gross receipts are more than $4,000.00, and not more than $6,000.00, the license shall not exceed $80.00.

d.

Fourth class. When the gross receipts exceed $6,000.00, the additional license thereafter shall not be more than $70.00 for each $10,000.00, or fraction thereof, in excess of $6,000.00.

(3)

The maximum license tax on such businesses, payable to the parish by any insurer, shall not exceed $9,000.00; provided, that plate glass and steam boiler inspection insurers shall pay one-third of the rates provided in subsection (2) of this section, and provided further, that the amount of license payable to the parish as fixed in this section, shall be one-third of the amount so fixed if the payer shall file a sworn statement with the annual report required by title 22 of the Revised Statutes of Louisiana of 1950 (R.S. tit. 22), showing that at least one-sixth of the total admitted assets of the payer, less assets in an amount equal to the reserves on its policies issued in foreign countries in which it is authorized to do business and which countries require an investment therein as a condition of doing business, is invested and maintained, either in bonds of the state, or in bonds of municipal, school, road or levee district, or other political subdivisions of this state, or in mortgages on property located in this state, or in real property in this state which shall be requisite for the convenient accommodation of the transaction of its own business, or in policy loans, or other loans to residents of this state or to corporations organized under the laws of this state and domiciled in this state, or in stock of homestead building or loan associations organized under the laws of this state, to the extent such stock is guaranteed or insured by the Federal Deposit Insurance Corporation or other federal or state agency.

(Code 1979, § 10-1; Ord. of 8-1-1978, §§ 1—3; Ord. of 9-4-1979, § 3)

State law reference

Legal authority of municipalities to impose license taxes on insurers, R.S. 22:833 et seq.