Fees

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.