Every member insurer that prior to April 1, 1993, or after July 27, 1997, shall have paid one or more assessments levied pursuant to RCW 48.32.060(1)(c) shall be entitled to take a credit against any premium tax falling due under RCW 48.14.020. The amount of the credit shall be one-fifth of the aggregate amount of such aggregate assessments paid during such calendar year for each of the five consecutive calendar years beginning with the calendar year following the calendar year in which such assessments are paid. Whenever the allowable credit is or becomes less than one thousand dollars, the entire amount of the credit may be offset against the premium tax at the next time the premium tax is paid.
RCW 48.32.145
Credit against premium tax for assessments paid pursuant to RCW 48.32.060(1)(c).
Known as the Washington Insurance Guaranty Association Act
The act spans §§ 48–48 (21 sections).
1997 c 300 s 1; 1993 sp.s. c 25 s 901; 1977 ex.s. c 183 s 1; 1975-'76 2nd ex.s. c 109 s 11.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.