TAX IMPOSED.
Tex. INS Code § 223.003.
in effect(a) An annual tax is imposed on all premiums from the business of title insurance. The rate of the tax is 1.35 percent of title insurance taxable premiums for a calendar year, including any premiums retained by a title insurance agent as provided by Section 223.005 . For purposes of this chapter, a person engages in the business of title insurance if the person engages in an activity described by Section 2501.005 .
(b) Except as provided by Subsection (c), in determining a title insurance company's taxable premiums, the company shall include the total amounts of premiums received in a calendar year from title insurance written on property located in this state.
(c) The following premiums are not included in determining a title insurance company's taxable premiums:
(1) premiums received from other title insurance companies for reinsurance; and
(2) returned premiums and dividends paid to policyholders.
(d) In determining a title insurance company's taxable premiums, a title insurance company is not entitled to a deduction for premiums paid for reinsurance.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.