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Section 26-42-111 - Credits for Assessments Paid; Tax Offsets.

WY Stat § 26-42-111 (2019) (N/A)
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26-42-111. Credits for assessments paid; tax offsets.

(a) A member insurer may offset against its premium tax liability to this state an assessment described in W.S. 26-42-107(k) to the extent of ten percent (10%) of the amount of the assessment for each of the ten (10) calendar years following the year in which the assessment was paid. If a member insurer ceases doing business, all uncredited assessments may be credited against its premium tax liability for the year it ceases doing business.

(b) Any sums which are acquired by refund pursuant to W.S. 26-42-107(h) from the association by member insurers and which have been offset against premium taxes as provided in subsection (a) of this section, shall be paid by the member insurers to this state as required by the commissioner. The association shall notify the commissioner that the refunds have been made.

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