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 written only.  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.

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