The Taxation of Organized Beneficence

Cover The Taxation of Organized Beneficence
The Taxation of Organized Beneficence
Darwin Pearl Kingsley
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In one State the rate is six-tenths of 1%; In two States it is 1% ; In one State it is 1. 44% ; In one it is 1. 75%; In two it is 1^/2% ; In eleven it is 2% ; In one it is 2y 2 % on the first $5, 000 and 2% on the excess ; In one it is 2%%; In six it is 2y 2 %; And in one it is 3%.
Nineteen States and the District of Columbia levy a tax upon premiums after certain deductions : In four States and in the District of Columbia the basis of the tax is premiums less dividends ; . In nine States it is
... premiums less annual dividends; In one State it is premiums less death losses; In one State it is premiums less death losses not to exceed 25% of the premiums; In two States it is premiums less policy claims; In one State it is premiums less death losses, endow- ments and commissions ; In one State it is premiums less re-insurance premiums paid to domestic companies.
In two States only are premiums not taxed Nevada and Massachusetts; but Massachusetts levies a tax upon the reserves of Massachusetts policy-holders, which is the most indefensible of all forms of life insurance taxation.


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