20581, 12B-8.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 20581

Notice of Proposed Rule

Department:

DEPARTMENT OF REVENUE

Division:

Miscellaneous Tax

Chapter:

INSURANCE PREMIUM TAXES, FEES AND SURCHARGES

Overview

RULE:

12B-8.001	Premium Tax; Rate and Computation
12B-8.0012	Insurance Policy Surcharge; Rate and Computation
12B-8.003	Tax Statement; Overpayments

PURPOSE:

The purpose of the proposed amendments to Rule 12B-8.001, F.A.C. (Premium Tax; Rate and Computation), is to implement the changes to Section 288.99(11), F.S., as amended by Chapter 2005-91, L.O.F., regarding the transfer of certified capital company (CAPCO) credits. 
The purpose of the proposed amendments to Rule 12B-8.0012, F.A.C. (Insurance Policy Surcharge; Rate and Computation), is to implement the changes to Section 252.372, F.S., as amended by Chapter 2005-280, L.O.F., regarding the collection and remission of the surcharge by surplus lines companies and surplus lines agents for policies issued on or after January 1, 2006. 
The purpose of the proposed amendments to Rule 12B-8.003, F.A.C. (Tax Statement; Overpayments), is to adopt, by reference, changes to forms used by the Department in the administration of the insurance premium tax.

SUMMARY:

The proposed amendments to Rule 12B-8.001, F.A.C. (Premium Tax; Rate and Computation), add provisions necessary to facilitate the transfer of certified capital company (CAPCO) credits required under Section 288.99(11), F.S., as amended by Chapter 2005-91, L.O.F.
The proposed amendments to Rule 12B-8.0012, F.A.C. (Insurance Policy Surcharge; Rate and Computation), implement the changes to Section 252.372, F.S., as amended by Chapter 2005-280, L.O.F., by removing language relating to the collection and remission of the surcharge by surplus lines companies and surplus lines agents. The surcharges on surplus lines policies and independently procured policies will be remitted to the Florida Surplus Lines Office for policies issued on or after January 1, 2006. 
The proposed amendments to Rule 12B-8.003, F.A.C. (Tax Statement; Overpayments): (1) adopt, by reference, changes to forms used by the Department in the administration of the insurance premium tax; and (2) update information on how to obtain forms from the Department.

RULEMAKING AUTHORITY:

213.06(1) FS., 220.183(6) FS., 288.99(11) FS., 624.5105(6) FS., Ch. 93-128, L.O.F.

LAW:

175.101 FS., 175.121 FS., 175.141 FS., 185.08(3) FS., 185.10 FS., 185.12 FS., 213.05 FS., 213.235 FS., 213.37 FS., 220.183(3) FS., 288.99(11) FS., 624.4621 FS., 624.475 FS., 624.509 FS., 624.5092 FS., 624.510 FS., 624.5105 FS., 624.511 FS., 624.518 FS., 624.519 FS., 624.520(2) FS., 626.7451(11) FS., 627.3512 FS., 627.357(9) FS., 628.6015 FS., 629.5011 FS., 634.131 FS., 634.313(2) FS., 634.415(2) FS., Ch. 93-128, L.O.F.

PRINT PUBLISH DATE:

1/13/2006 Vol. 32/02

COMMENTS:

From 1/13/2006 To 2/3/2006 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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