Insurance Premium Tax

Insurance Premium Tax is a tax paid by all life insurance companies, all stock insurance companies, all mutual insurance companies, and all captive insurers doing business in Kentucky.  The tax is assessed on premiums collected by insurance companies on policies written in Kentucky during the preceding calendar year.  The Insurance Premium Surcharge is charged and collected by every foreign, domestic, or alien insurer, other than life insurers, on premiums, assessments, or other charges, for insurance coverage provided to its policyholders on risks located in Kentucky.  The Insurance Premium Tax Laws are located in Chapter 136 of the Kentucky Revised Statues.  Life and health insurers are not subject to the premium surcharge imposed by KRS 136.392 and pursuant to KRS 342.122(1)(e), the premium surcharge shall not be imposed on Workers' Compensation premiums. 

Filing Requirements

Insurance companies are required to file a quarterly insurance premium tax return with the city, which calculates the amount of insurance premium tax owed based upon the amount of premiums received for each type of insurance in that quarter.  The Insurance Premium Tax Returns are due 30 days after the end of each quarter and should be mailed to:

Cory Alexander, Finance Director
P.O. Box 1270
67 N. Main Street
Madisonville, KY  42431
Phone:  (270) 824-2111
Fax: (270) 824-2152

Forms 

Quarterly Insurance Premium Tax Return

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