515.24 Tax — computation. For the purpose of determining the basis of any tax upon the gross amount of premiums, or gross receipts from premiums, assessments, fees, and promissory obligations, now orhereafter imposed upon any fire or casualty insurance company under any law of thisstate, such gross amount or gross receipts shall consist of the gross written premiums orreceipts for direct insurance, without including or deducting any amounts received or paidfor reinsurance except that any company reinsuring windstorm or hail risks written bycounty mutual insurance associations shall be required to pay as a tax the applicable percentprovided in section 432.1, calculated upon the gross amount of reinsurance premiumsreceived upon such risks, but with such other deductions as provided by law, and in additiondeducting any so-called dividend or return of savings or gains to policyholders; providedthat as to any deposits or deposit premiums received by any such company, the taxablepremiums shall be the portion of such deposits or deposit premiums earned during the yearwith such deductions therefrom as provided by law. r deposit premiums received by any such company, the taxablepremiums shall be the portion of such deposits or deposit premiums earned during the yearwith such deductions therefrom as provided by law. [C24, 27, 31, 35, 39, §8916; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §515.24]2002 Acts, ch 1119, §181; 2006 Acts, ch 1117, §66; 2017 Acts, ch 54, §60 Sat Dec 23 00:46:39 2023 Iowa Code 2024, Section 515.24 (22, 0)
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