Question

In: Accounting

Which one of the following statement about surplus lines insurance taxation is true?

Which one of the following statement about surplus lines insurance taxation is true?


Select one:

a. Surplus lines insurance is taxed but admitted lines insurance is not taxed

b. Surplus lines insurance taxation is the same as admitted lines insurance taxation

c. Surplus lines insurance is subject to tax but the tax is assessed and collected differently than it is with admitted lines

d. No tax applies to surplus lines insurance but admitted lines insurance is taxed

Solutions

Expert Solution

c. Surplus lines insurance is subject to tax but the tax is assessed and collected differently than it is with admitted lines

ekkarill92 answered 2 years ago
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