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Iowa lowers tax rates for captive premiums
23 April 2024
US Reporter Diana Bui

Under the act, premiums written above US$60 million will be taxed at a rate of 0.02 per cent, instead of the five per cent rate that applied previously.

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IRS maintains micro-captives on 2024 ‘Dirty Dozen’ list
15 April 2024
US Reporter Diana Bui

This proposal follows the mention of micro-captives on its 2023 list.

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Florida targets out-of-state captive insurers with 5.3% tax
09 April 2024
US Reporter Diana Bui

The measure targets captive insurance entities, which often operate outside their business's state, bypassing local insurance companies and agents.

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RMC Group wins against IRS in captive dispute
08 April 2024
US Reporter Diana Bui

In the verdict, the jury cleared RMC Group, owned by Raymond Ankner, from penalties under Internal Revenue Code Section 6700, which governs the promotion of abusive tax shelters.

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VCIA members testify in support of the 2024 H.659 captive bill
15 January 2024
US Reporter Frances Jones

The H.659 bill seeks to make various amendments to Vermont law relating to captive insurance

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Bermuda considers introducing corporate income tax
10 August 2023
Bermuda Reporter Jamie Richards

The proposed tax would apply to businesses that are part of multinational enterprise groups (MNEs) with annual revenue of €750 million (£648.1 million) or more

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Connecticut Rep. Courtney introduces Casualty Loss Deduction Restoration Act
13 July 2023
US Reporter Lucy Carter

Connecticut representative Joe Courtney has introduced the Casualty Loss Deduction Restoration Act to provide citizens with financial relief following losses from unexpected disasters

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