Excise tax on casualty insurance premiums levied; when due and payable

There is hereby assessed, imposed and levied on every insurance company, corporation or other insurer engaging in or carrying on the business of insuring with respect to casualty risks, as shown by the records of the state insurance commissioner, an excise or license tax in addition to any license tax or excise tax now levied by the city, which tax shall be in the amount of 0.85 percent of the gross amount of receipts of premiums from policy holders on all premiums collected on casualty insurance policies, covering property within the city. The license or excise tax levied by this section shall be due and payable annually on March 1 of each year.

(Code 1967, § 30-25; Code 1980, § 55-28)

State Law reference— Insurance premium tax authorized, F.S. § 185.08.