                                 CODE OF VIRGINIA

TAX ON PREMIUMS COLLECTED (§ 38.2-1108)

All captive insurers transacting business in this Commonwealth shall pay taxes
as provided for in Chapter 25 of Title 58.1, except that taxes shall be paid on
risks and property situated in any state in which the captive insurer is not
licensed and upon which no premium tax is otherwise paid or payable.

HISTORY: 1980, c. 665, § 38.1-928; 1986, c. 562.