Ariz. House Greenlights Reduced Tax On Insurance Premiums

Law360, New York (March 7, 2014, 4:03 PM EST) -- The Arizona House of Representatives on Thursday approved Republican legislation that would reduce the state tax that insurers pay on premiums they receive for life, vehicle, and property and casualty policies over the next three years.

House members voted 36-22 in support of the bill, which would reduce the insurance premium rate from 2 percent to 1.7 percent, phased in from 2015 to 2017. Proponents of the rate reduction say the move would bring Arizona in line with insurance premium rates in other states and encourage...
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