§ 12. Insurance license taxes.

(a)

Life, accident, health insurance:

(1)

Gross annual premiums up to $2,000.00 .....     $10.00

(2)

Each additional $10,000.00 of gross annual premiums or fraction thereof ..... 70.00

(3)

Maximum tax ..... 21,000.00

(b)

Fire, indemnity insurance:

(1)

First class, gross receipts not more than $2,000.00 ..... 40.00

(2)

Second class, gross receipts more than $2,000.00 and not more than $4,000.00 ..... 60.00

(3)

Third class, gross receipts more than $4,000.00 and not more than $6,000.00 ..... 80.00

(4)

Fourth class, each additional $10,000.00 gross receipts or fraction thereof over $6,000.00 ..... 70.00

(5)

Maximum ..... 9,000.00

(6)

Plate glass and steam boiler inspection insurers shall pay one-third of the above rates.

(c)

Deadline for payment. The deadline for payment of the license tax shall be June 1 of each year, after that time there shall be a penalty of five percent per month, maximum of 25 percent, for failure to pay by deadline.

(Ord. No. 10-1960, § 1, 12-14-1960; Ord. No. 16-1982, 9-22-1982; Ord. No. 17-1991, §§ 1, 2, 11-13-1991; Ord. No. 14-1992, § 1, 11-18-1992)

Cross reference

Levy of taxes, § 26-61.