{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-2501.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-2501.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-2501.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-2501.html"}],"law_id":68558,"edition_id":1,"section_id":68558,"structure_id":12732,"section_number":"58.1-2501","catch_line":"Levy of license tax","history":"Code 1950, \u00a7\u00a7 58-490, 58-491, 58-492, 58-501; 1952, c. 190; 1968, c. 13; 1978, c. 658; 1984, c. 675; 1987, cc. 565, 655; 1997, cc. 807, 913; 2004, c. 668; 2013, cc. 136, 210.","full_text":"A\n\nFor the privilege of doing business in the Commonwealth, there is hereby levied on every insurance company defined in \u00a7 38.2-100 which issues policies or contracts for any kind of insurance classified and defined in \u00a7\u00a7 38.2-102 through 38.2-134 and on every corporation which issues subscription contracts for any kind of plan classified and defined in \u00a7\u00a7 38.2-4201 and 38.2-4501, an annual license tax as follows:1\n\nFor any kind of insurance classified and defined in §§ 38.2-109 through 38.2-134 or Chapters 44 (§ 38.2-4400 et seq.) and 61 (§ 38.2-6100 et seq.) of Title 38.2, except workers’ compensation insurance on which a premium tax is imposed under the provisions of § 65.2-1000, such company shall pay a tax of two and three-fourths percent of its subscriber fee income or direct gross premium income on such insurance for each taxable year through 1988. For taxable year 1989 and each taxable year thereafter, such company shall pay a tax of two and one-fourth percent of its subscriber fee income or direct gross premium income on such insurance;2\n\nFor policies or contracts for life insurance as defined in § 38.2-102, such company shall pay a tax of two and one-fourth percent of its direct gross premium income on such insurance. However, with respect to premiums paid for additional benefits in the event of death, dismemberment or loss of sight by accident or accidental means, or to provide a special surrender value, special benefit or an annuity in the event of total and permanent disability, the rate of tax shall be two and three-fourths percent for each taxable year beginning January 1, 1987, through December 31, 1988, and two and one-fourth percent for taxable year beginning January 1, 1989, and each taxable year thereafter;3\n\nFor policies or contracts providing industrial sick benefit insurance as defined in § 38.2-3544, such company shall pay a tax of one percent of its direct gross premium income on such insurance. No company, however, doing business on the legal reserve plan, shall be required to pay any licenses, fees or other taxes in excess of those required by this section on such part of its business as is industrial sick benefit insurance as defined in § 38.2-3544; but any such company doing business on the legal reserve plan shall pay on all industrial sick benefit policies or contracts on which the sick benefit portion has been cancelled as provided in § 38.2-3546, or which provide a greater death benefit than $250 or a greater weekly indemnity than $10, and on all other life, accident and sickness insurance, the same license or other taxes as are required by this section; and4\n\nFor subscription contracts for any kind of plan classified and defined in § 38.2-4201 or § 38.2-4501, such corporation shall pay a tax of two and one-fourth percent of its direct gross subscriber fee income derived from subscription contracts issued to primary small groups as defined in § 38.2-3431 and three-fourths of one percent of its direct gross subscriber fee income derived from other subscription contracts for taxable year 1997. For each of taxable years 1998 through 2013, such corporation shall pay a tax of three-fourths of one percent of its direct gross subscriber fee income derived from subscription contracts issued to individuals and from open enrollment contracts as defined in § 38.2-4216.1, and two and one-fourth percent of its direct gross subscriber fee income derived from other subscription contracts. For each taxable year thereafter, such corporation shall pay a tax of two and one-fourth percent of its direct gross subscriber fee income derived from all subscription contracts. The declaration of estimated tax pursuant to this subsection shall commence on or before April 15, 1988.B\n\nNotwithstanding any other provisions of this section, any domestic insurance company doing business solely in the Commonwealth which is purely mutual, has no capital stock and is not designed to accumulate profits for the benefit of or pay dividends to its members, and any domestic insurance company doing business solely in the Commonwealth, with a capital stock not exceeding $25,000 and which pays losses with assessments against its policyholders or members, shall pay an annual license tax of one percent of its direct gross premium income.","order_by":null,"text":{"0":{"id":248164,"text":"For the privilege of doing business in the Commonwealth, there is hereby levied on every insurance company defined in \u00a7 38.2-100 which issues policies or contracts for any kind of insurance classified and defined in \u00a7\u00a7 38.2-102 through 38.2-134 and on every corporation which issues subscription contracts for any kind of plan classified and defined in \u00a7\u00a7 38.2-4201 and 38.2-4501, an annual license tax as follows:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":248165,"text":"For any kind of insurance classified and defined in §§ 38.2-109 through 38.2-134 or Chapters 44 (§ 38.2-4400 et seq.) and 61 (§ 38.2-6100 et seq.) of Title 38.2, except workers’ compensation insurance on which a premium tax is imposed under the provisions of § 65.2-1000, such company shall pay a tax of two and three-fourths percent of its subscriber fee income or direct gross premium income on such insurance for each taxable year through 1988. For taxable year 1989 and each taxable year thereafter, such company shall pay a tax of two and one-fourth percent of its subscriber fee income or direct gross premium income on such insurance;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":248166,"text":"For policies or contracts for life insurance as defined in § 38.2-102, such company shall pay a tax of two and one-fourth percent of its direct gross premium income on such insurance. However, with respect to premiums paid for additional benefits in the event of death, dismemberment or loss of sight by accident or accidental means, or to provide a special surrender value, special benefit or an annuity in the event of total and permanent disability, the rate of tax shall be two and three-fourths percent for each taxable year beginning January 1, 1987, through December 31, 1988, and two and one-fourth percent for taxable year beginning January 1, 1989, and each taxable year thereafter;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":248167,"text":"For policies or contracts providing industrial sick benefit insurance as defined in § 38.2-3544, such company shall pay a tax of one percent of its direct gross premium income on such insurance. No company, however, doing business on the legal reserve plan, shall be required to pay any licenses, fees or other taxes in excess of those required by this section on such part of its business as is industrial sick benefit insurance as defined in § 38.2-3544; but any such company doing business on the legal reserve plan shall pay on all industrial sick benefit policies or contracts on which the sick benefit portion has been cancelled as provided in § 38.2-3546, or which provide a greater death benefit than $250 or a greater weekly indemnity than $10, and on all other life, accident and sickness insurance, the same license or other taxes as are required by this section; and","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":248168,"text":"For subscription contracts for any kind of plan classified and defined in § 38.2-4201 or § 38.2-4501, such corporation shall pay a tax of two and one-fourth percent of its direct gross subscriber fee income derived from subscription contracts issued to primary small groups as defined in § 38.2-3431 and three-fourths of one percent of its direct gross subscriber fee income derived from other subscription contracts for taxable year 1997. For each of taxable years 1998 through 2013, such corporation shall pay a tax of three-fourths of one percent of its direct gross subscriber fee income derived from subscription contracts issued to individuals and from open enrollment contracts as defined in § 38.2-4216.1, and two and one-fourth percent of its direct gross subscriber fee income derived from other subscription contracts. For each taxable year thereafter, such corporation shall pay a tax of two and one-fourth percent of its direct gross subscriber fee income derived from all subscription contracts. The declaration of estimated tax pursuant to this subsection shall commence on or before April 15, 1988.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":248169,"text":"Notwithstanding any other provisions of this section, any domestic insurance company doing business solely in the Commonwealth which is purely mutual, has no capital stock and is not designed to accumulate profits for the benefit of or pay dividends to its members, and any domestic insurance company doing business solely in the Commonwealth, with a capital stock not exceeding $25,000 and which pays losses with assessments against its policyholders or members, shall pay an annual license tax of one percent of its direct gross premium income.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4"}},"ancestry":[{"id":12732,"edition_id":1,"name":"Levy","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":12731,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":255945,"object_type":"structure","relational_id":12732,"identifier":"1","token":"58.1\/II\/25\/1","url":"\/58.1\/II\/25\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12731,"edition_id":1,"name":"License Tax on Certain Insurance Companies","identifier":"25","label":"chapter","depth":3,"order_by":1,"parent_id":12730,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":255943,"object_type":"structure","relational_id":12731,"identifier":"25","token":"58.1\/II\/25","url":"\/58.1\/II\/25\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12730,"edition_id":1,"name":"Taxes Administered by Other Agencies","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":255261,"object_type":"structure","relational_id":12730,"identifier":"II","token":"58.1\/II","url":"\/58.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56221,"structure_id":12732,"section_number":"58.1-2500","catch_line":"Definitions","url":"\/58.1-2500\/","token":"58.1\/II\/25\/1\/58.1-2500","metadata":false},{"id":68558,"structure_id":12732,"section_number":"58.1-2501","catch_line":"Levy of license tax","url":"\/58.1-2501\/","token":"58.1\/II\/25\/1\/58.1-2501","metadata":false},{"id":71244,"structure_id":12732,"section_number":"58.1-2501.1","catch_line":"Premium tax; travel insurance","url":"\/58.1-2501.1\/","token":"58.1\/II\/25\/1\/58.1-2501.1","metadata":false},{"id":65373,"structure_id":12732,"section_number":"58.1-2502","catch_line":"Exemptions and exclusions","url":"\/58.1-2502\/","token":"58.1\/II\/25\/1\/58.1-2502","metadata":false},{"id":66081,"structure_id":12732,"section_number":"58.1-2503","catch_line":"When tax payable","url":"\/58.1-2503\/","token":"58.1\/II\/25\/1\/58.1-2503","metadata":false},{"id":76338,"structure_id":12732,"section_number":"58.1-2504","catch_line":"Companies commencing business","url":"\/58.1-2504\/","token":"58.1\/II\/25\/1\/58.1-2504","metadata":false},{"id":83928,"structure_id":12732,"section_number":"58.1-2505","catch_line":"Amount of license tax for company commencing business","url":"\/58.1-2505\/","token":"58.1\/II\/25\/1\/58.1-2505","metadata":false},{"id":58246,"structure_id":12732,"section_number":"58.1-2506","catch_line":"Reports to the Department","url":"\/58.1-2506\/","token":"58.1\/II\/25\/1\/58.1-2506","metadata":false},{"id":55841,"structure_id":12732,"section_number":"58.1-2507","catch_line":"Penalties for failure to make report or pay tax; revocation of license; recovery by suit","url":"\/58.1-2507\/","token":"58.1\/II\/25\/1\/58.1-2507","metadata":false},{"id":87222,"structure_id":12732,"section_number":"58.1-2508","catch_line":"Taxes applicable to insurance companies","url":"\/58.1-2508\/","token":"58.1\/II\/25\/1\/58.1-2508","metadata":false},{"id":55996,"structure_id":12732,"section_number":"58.1-2509","catch_line":"Certain other provisions not affected by chapter","url":"\/58.1-2509\/","token":"58.1\/II\/25\/1\/58.1-2509","metadata":false},{"id":59419,"structure_id":12732,"section_number":"58.1-2510","catch_line":"Tax credit for retaliatory costs paid to other states","url":"\/58.1-2510\/","token":"58.1\/II\/25\/1\/58.1-2510","metadata":false},{"id":53944,"structure_id":12732,"section_number":"58.1-2511","catch_line":"Reserved","url":"\/58.1-2511\/","token":"58.1\/II\/25\/1\/58.1-2511","metadata":false}],"previous_section":{"id":56221,"structure_id":12732,"section_number":"58.1-2500","catch_line":"Definitions","url":"\/58.1-2500\/","token":"58.1\/II\/25\/1\/58.1-2500","metadata":false},"next_section":{"id":71244,"structure_id":12732,"section_number":"58.1-2501.1","catch_line":"Premium tax; travel insurance","url":"\/58.1-2501.1\/","token":"58.1\/II\/25\/1\/58.1-2501.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-2501\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 8 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1952, chapter 190; in 1968, chapter 13; in 1978, chapter 658; in 1984, chapter 675; in 1987, chapters 565 and 655; in 1997, chapters 807<\/a> and 913<\/a>; in 2004, chapter 668<\/a>; in 2013, chapters 136<\/a> and 210<\/a>.<\/p>","references":[{"id":66737,"section_number":"32.1-352","catch_line":"Virginia Family Access to Medical Insurance Security Plan Trust Fund","order_by":null,"url":"\/32.1-352\/"},{"id":62348,"section_number":"38.2-4416","catch_line":"Taxation","order_by":null,"url":"\/38.2-4416\/"},{"id":71244,"section_number":"58.1-2501.1","catch_line":"Premium tax; travel insurance","order_by":null,"url":"\/58.1-2501.1\/"},{"id":59419,"section_number":"58.1-2510","catch_line":"Tax credit for retaliatory costs paid to other states","order_by":null,"url":"\/58.1-2510\/"},{"id":77497,"section_number":"58.1-2520","catch_line":"Requirement of declaration","order_by":null,"url":"\/58.1-2520\/"},{"id":75925,"section_number":"59.1-592","catch_line":"Exemptions; license tax","order_by":null,"url":"\/59.1-592\/"}],"refers_to":[{"id":59918,"section_number":"38.2-100","catch_line":"Definitions","order_by":null,"url":"\/38.2-100\/"},{"id":57209,"section_number":"38.2-102","catch_line":"Life","order_by":null,"url":"\/38.2-102\/"},{"id":75359,"section_number":"38.2-109","catch_line":"Accident and sickness","order_by":null,"url":"\/38.2-109\/"},{"id":74943,"section_number":"38.2-134","catch_line":"Definitions to include other insurance of same general kind","order_by":null,"url":"\/38.2-134\/"},{"id":86404,"section_number":"38.2-3431","catch_line":"Application of article; definitions","order_by":null,"url":"\/38.2-3431\/"},{"id":83339,"section_number":"38.2-3544","catch_line":"Definition of industrial sick benefit insurance","order_by":null,"url":"\/38.2-3544\/"},{"id":54672,"section_number":"38.2-3546","catch_line":"Cancellation of sick benefit portion of policy","order_by":null,"url":"\/38.2-3546\/"},{"id":76897,"section_number":"38.2-4201","catch_line":"Definitions","order_by":null,"url":"\/38.2-4201\/"},{"id":75758,"section_number":"38.2-4216.1","catch_line":"Repealed","order_by":null,"url":"\/38.2-4216.1\/"},{"id":67200,"section_number":"38.2-4400","catch_line":"Definitions","order_by":null,"url":"\/38.2-4400\/"},{"id":78064,"section_number":"38.2-4501","catch_line":"Definitions","order_by":null,"url":"\/38.2-4501\/"},{"id":64365,"section_number":"38.2-6100","catch_line":"Applicability of chapter","order_by":null,"url":"\/38.2-6100\/"},{"id":72546,"section_number":"65.2-1000","catch_line":"Tax for administrative fund","order_by":null,"url":"\/65.2-1000\/"}],"permalink":{"id":255951,"object_type":"law","relational_id":68558,"identifier":"58.1-2501","token":"58.1\/II\/25\/1\/58.1-2501","url":"\/58.1-2501\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-2501\/","token":"58.1\/II\/25\/1\/58.1-2501","dublin_core":{"Title":"Levy of license tax","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-2501","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> For the privilege<\/span> of doing business in the Commonwealth, there is hereby levied on every insurance company<\/span> defined in \u00a7 38.2-100<\/a> which issues<\/span> policies or contracts<\/span> for any kind of insurance classified and defined in \u00a7\u00a7 38.2-102<\/a> through 38.2-134<\/a> and on every corporation which issues<\/span> subscription contracts<\/span> for any kind of plan classified and defined in \u00a7\u00a7 38.2-4201<\/a> and 38.2-4501<\/a>, an annual license tax<\/span> as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> For any kind of insurance classified and defined in §§ 38.2-109<\/a> through 38.2-134<\/a> or Chapters 44 (§ 38.2-4400<\/a> et seq.) and 61 (§ 38.2-6100<\/a> et seq.) of Title 38.2, except workers’ compensation insurance on which a premium tax<\/span> is imposed under the provisions of § 65.2-1000<\/a>, such company shall pay a tax<\/span> of two and three-fourths percent of its subscriber fee income<\/span> or direct gross premium income<\/span> on such insurance for each taxable year<\/span> through 1988. For taxable year<\/span> 1989 and each taxable year<\/span> thereafter, such company shall pay a tax<\/span> of two and one-fourth percent of its subscriber fee income<\/span> or direct gross premium income<\/span> on such insurance; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For policies or contracts<\/span> for life insurance as defined in § 38.2-102<\/a>, such company shall pay a tax<\/span> of two and one-fourth percent of its direct gross premium income<\/span> on such insurance. However, with respect to premiums paid for additional benefits in the event of death, dismemberment or loss of sight by accident or accidental means, or to provide a special surrender value, special benefit or an annuity in the event of total and permanent disability, the rate of tax<\/span> shall be two and three-fourths percent for each taxable year<\/span> beginning January 1, 1987, through December 31, 1988, and two and one-fourth percent for taxable year<\/span> beginning January 1, 1989, and each taxable year<\/span> thereafter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> For policies or contracts<\/span> providing industrial sick benefit insurance as defined in § 38.2-3544<\/a>, such company shall pay a tax<\/span> of one percent of its direct gross premium income<\/span> on such insurance. No company, however, doing business on the legal reserve plan, shall be required to pay any licenses, fees or other taxes in excess of those required by this section on such part of its business as is industrial sick benefit insurance as defined in § 38.2-3544<\/a>; but any such company doing business on the legal reserve plan shall pay on all industrial sick benefit policies or contracts<\/span> on which the sick benefit portion has been cancelled as provided in § 38.2-3546<\/a>, or which provide a greater death benefit than $250 or a greater weekly indemnity than $10, and on all other life, accident and sickness insurance, the same license or other taxes as are required by this section; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> For subscription contracts<\/span> for any kind of plan classified and defined in § 38.2-4201<\/a> or § 38.2-4501<\/a>, such corporation shall pay a tax of two and one-fourth percent of its direct gross subscriber fee income<\/span> derived from subscription contracts<\/span> issued to primary small groups as defined in § 38.2-3431<\/a> and three-fourths of one percent of its direct gross subscriber fee income<\/span> derived from other subscription contracts<\/span> for taxable year<\/span> 1997. For each of taxable years<\/span> 1998 through 2013, such corporation shall pay a tax of three-fourths of one percent of its direct gross subscriber fee income<\/span> derived from subscription contracts<\/span> issued to individuals and from open enrollment contracts<\/span> as defined in § 38.2-4216.1<\/a>, and two and one-fourth percent of its direct gross subscriber fee income<\/span> derived from other subscription contracts<\/span>. For each taxable year<\/span> thereafter, such corporation shall pay a tax of two and one-fourth percent of its direct gross subscriber fee income<\/span> derived from all subscription contracts<\/span>. The declaration of estimated tax<\/span> pursuant to this subsection shall commence on or before April 15, 1988. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding any other provisions of this section, any domestic insurance company<\/span> doing business solely in the Commonwealth which is purely mutual, has no capital stock and is not designed to accumulate profits for the benefit of or pay dividends to its members, and any domestic insurance company<\/span> doing business solely in the Commonwealth, with a capital stock not exceeding $25,000 and which pays losses with assessments against its policyholders or members, shall pay an annual license tax of one percent of its direct gross premium income<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLEVY OF LICENSE TAX (\u00a7 58.1-2501)\n\nA. For the privilege of doing business in the Commonwealth, there is hereby\nlevied on every insurance company defined in \u00a7 38.2-100 which issues policies\nor contracts for any kind of insurance classified and defined in \u00a7\u00a7 38.2-102\nthrough 38.2-134 and on every corporation which issues subscription contracts\nfor any kind of plan classified and defined in \u00a7\u00a7 38.2-4201 and 38.2-4501, an\nannual license tax as follows:\n\n 1. For any kind of insurance classified and defined in §§ 38.2-109\n through 38.2-134 or Chapters 44 (§ 38.2-4400 et seq.) and 61 (§\n 38.2-6100 et seq.) of Title 38.2, except workers’ compensation insurance\n on which a premium tax is imposed under the provisions of § 65.2-1000,\n such company shall pay a tax of two and three-fourths percent of its\n subscriber fee income or direct gross premium income on such insurance for\n each taxable year through 1988. For taxable year 1989 and each taxable year\n thereafter, such company shall pay a tax of two and one-fourth percent of its\n subscriber fee income or direct gross premium income on such insurance;\n\n 2. For policies or contracts for life insurance as defined in § 38.2-102,\n such company shall pay a tax of two and one-fourth percent of its direct gross\n premium income on such insurance. However, with respect to premiums paid for\n additional benefits in the event of death, dismemberment or loss of sight by\n accident or accidental means, or to provide a special surrender value, special\n benefit or an annuity in the event of total and permanent disability, the rate\n of tax shall be two and three-fourths percent for each taxable year beginning\n January 1, 1987, through December 31, 1988, and two and one-fourth percent for\n taxable year beginning January 1, 1989, and each taxable year thereafter;\n\n 3. For policies or contracts providing industrial sick benefit insurance as\n defined in § 38.2-3544, such company shall pay a tax of one percent of\n its direct gross premium income on such insurance. No company, however, doing\n business on the legal reserve plan, shall be required to pay any licenses,\n fees or other taxes in excess of those required by this section on such part\n of its business as is industrial sick benefit insurance as defined in §\n 38.2-3544; but any such company doing business on the legal reserve plan shall\n pay on all industrial sick benefit policies or contracts on which the sick\n benefit portion has been cancelled as provided in § 38.2-3546, or which\n provide a greater death benefit than $250 or a greater weekly indemnity than\n $10, and on all other life, accident and sickness insurance, the same license\n or other taxes as are required by this section; and\n\n 4. For subscription contracts for any kind of plan classified and defined in\n § 38.2-4201 or § 38.2-4501, such corporation shall pay a tax of two\n and one-fourth percent of its direct gross subscriber fee income derived from\n subscription contracts issued to primary small groups as defined in §\n 38.2-3431 and three-fourths of one percent of its direct gross subscriber fee\n income derived from other subscription contracts for taxable year 1997. For\n each of taxable years 1998 through 2013, such corporation shall pay a tax of\n three-fourths of one percent of its direct gross subscriber fee income derived\n from subscription contracts issued to individuals and from open enrollment\n contracts as defined in § 38.2-4216.1, and two and one-fourth percent of\n its direct gross subscriber fee income derived from other subscription\n contracts. For each taxable year thereafter, such corporation shall pay a tax\n of two and one-fourth percent of its direct gross subscriber fee income\n derived from all subscription contracts. The declaration of estimated tax\n pursuant to this subsection shall commence on or before April 15, 1988.\n\nB. Notwithstanding any other provisions of this section, any domestic insurance\ncompany doing business solely in the Commonwealth which is purely mutual, has no\ncapital stock and is not designed to accumulate profits for the benefit of or\npay dividends to its members, and any domestic insurance company doing business\nsolely in the Commonwealth, with a capital stock not exceeding $25,000 and which\npays losses with assessments against its policyholders or members, shall pay an\nannual license tax of one percent of its direct gross premium income.\n\nHISTORY: Code 1950, \u00a7\u00a7 58-490, 58-491, 58-492, 58-501; 1952, c. 190; 1968, c.\n13; 1978, c. 658; 1984, c. 675; 1987, cc. 565, 655; 1997, cc. 807, 913; 2004, c.\n668; 2013, cc. 136, 210.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}