Premium License Tax: Assessments, Tax Codes, Tax Rates, Filing Information
The Administrative Tax Division is responsible for the collection of license tax
payments and various assessment payments collected by the Bureau of Insurance. It
is also responsible for the audit of all tax/assessment reports.
For the privilege of doing business in the Commonwealth, an annual license tax is
levied on insurance companies, as defined in § 38.2-100, and surplus lines brokers
licensed pursuant to Chapter 48 of the Code of Virginia. In addition to the annual
license tax, insurance companies and surplus lines brokers are also subject to the
Assessment for the Maintenance of the Bureau of Insurance. Insurance companies (based
on the lines of authority it has in Virginia) could also be subject to any of the
following assessments:
- Fire Programs Fund Assessment
- Flood Prevention and Protection Assistance Fund Assessment
- Help Eliminate Automobile Theft (HEAT) Fund Assessment
- Fraud Assessment
- MCHIP (Managed Care Health Insurance Plan) Assessment
For more information, see Chapter 4 of Title 38.2 and Chapter 25 of Title 58.1 under
Tax, Assessment and Related Code Sites.
Tax, Assessment and Related Code Sites
Insurance Company Tax Filing Information
Surplus Brokers Tax Filing Information
Tax Rates