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Fees

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Fees:
Initial Incorporation Fee:   $50
Annual Business Registration Fee:   $15
Captive Application Fee:   $1000
Captive Annual License Fees:
  Class 1 and 2:   $300
  Class 3:   $500
  Class 4 and 5:   $1000

Premium Tax (Annual)
Tax on captive’s premiums only.  Rates as follows:

 

    0.25% on premiums from $0 up to $25 million

    0.15% on premiums from $25 million up to $50 million

    0.05% on premiums from $50 million up to $250 million

    0.00% on premiums more than $250 million

 

No minimum premium tax.  Maximum premium tax of $200,000.

No taxation of captive premiums if premiums were previously subjected to tax in jurisdiction where underlying risk is located, or on reinsurance premiums assumed by captive.
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Gordon I. Ito

Insurance Commissioner

Gordon I. Ito