§ 62-235. Gross premiums tax imposed.

(a)

Definitions. The following words, terms and phrases, when used in this section, shall have the meanings ascribed to them in this subsection, except where the context clearly indicates a different meaning:

Gross direct premiums means as used in O.C.G.A. § 33-8-4.

(b)

Life insurers. There is hereby levied for the year 2002 and for each year thereafter an annual tax based solely upon gross direct premiums upon each insurer writing life, accident and sickness insurance within the state in an amount equal to one percent of the gross direct premium received during the preceding calendar year in accordance with O.C.G.A. § 33-8-8.1. Gross direct premiums as used in this section shall mean gross direct premiums as used in O.C.G.A. § 33-8-4. The premium tax levied by this section is in addition to the license fees imposed by section 62-232 of this chapter.

(c)

All other insurers. There is hereby levied for the year 2002 and for each year thereafter, an annual tax based solely upon gross direct premiums upon each insurer, other than an insurer transacting business in the class of insurance designated in O.C.G.A. § 33-8-5(1), doing business within the state in an amount equal to two and one half percent of the gross direct premiums received during the preceding calendar year in accordance with O.C.G.A. § 33-8-8.2. Gross direct premiums as used in this section shall mean gross direct premiums as used in O.C.G.A. § 33-8-4. The premium tax levied by this section is in addition to the license fees imposed by section 62-232 of this chapter.

(Ord. No. 95-0109, §§ 4, 5, 1-9-95; Ord. of 10-8-01, §§3, 4)