§ 70-278. Excise tax on insurance companies.

(a)

In addition to any other lawful license or excise tax levied by the city, an excise or license tax shall be and is assessed and imposed on every insurance company, corporation or other insurer engaged in or carrying on or who shall engage in or carry on the business of casualty insuring as shown by the records of the state treasurer in his capacity as state insurance commissioner, in the amount of one percent of the gross amount of receipts of premiums from policyholders on all premiums collected on casualty insurance policies covering property within the corporate limits of the city.

(b)

The excise or license tax provided for in this section shall be payable and collected in the manner provided for by F.S. ch. 185.

(c)

All monies received by the city under this section shall be paid immediately into the police officer pension fund. All other monies received in accordance to F.S. § 185.07(5) shall be under the direct control of the board of trustees.

(Code 1960, § 24-53.1; Ord. No. 1781, § 13, 6-22-1965)

State law reference

Insurance premium tax authority, F.S. § 185.08.

Cross reference

Taxation, ch. 86.