Insurance Premium Tax Ordinance deadline - March 23

Posted February 4, 2014

Insurance Premium Tax Ordinance deadline - March 23

In the event that a city wishes to enact an insurance premium tax, or increase or lower its current insurance premium tax rate, the statutes require that certain filing guidelines be followed. The city must file any changes to their Insurance Premium Tax ordinance with the Department of Insurance by March 23 in order for the changes to take effect July 1. If the city does not meet the March 23 deadline the change will not take effect until July 1, 2015.

Any ordinance enacting, or any ordinance amending the insurance premium tax rate should be mailed to:
Brenda Smith, Program Coordinator
Local Government Premium Tax Unit
P.O. Box 517
Frankfort, KY 40602

In order to have the ordinance to the Department of Insurance by March 23 it is important that cities begin the ordinance process now.
For any other questions regarding insurance premium taxes, or for a sample ordinance, contact the KLC Legal Department.