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Electronic Payment Required for Premium Taxes

Tuesday, March 29, 2016 | 465 | 0 | 9 min read

Electronic payment of premium taxes by Tennessee insurance companies is required by a bill passed last year. On Monday, the state Department of Commerce Insurance posted notice of emergency rules to comply with the law. "The simultaneous Jan. 1, 2015 effective date of both the electronic payment requirement and the authority to create rules regulating such payments does not provide enough time to conduct a notice of rulemaking hearing," the department explained. The emergency rules will expire on July 1. The commissioner is also authorized to establish a convenience fee payable b...

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