New system introduces brackets, minimum levies, and reinsurance-specific provisions
Montana will shift from a flat-rate tax structure to a tiered premium tax system for captive insurance companies following the signing of new legislation by Gov. Greg Gianforte (pictured above).
The law also introduces a minimum annual tax and expands tax provisions for reinsurance premiums.
Beginning Dec. 31, direct premiums will be taxed at 0.4% on the first $20 million. Premiums exceeding that threshold will be taxed at a 0.3% r