July 22, 2011
By Arthur D. Postal, PropertyCasualty360.com
NU Online News Service, July 22, 2:46 p.m. EDT
Illinois has become the latest large state to adopt a regulation to implement the federal surplus lines reform and modernization law that doesn’t mandate it share revenues with other states.
Through a bulletin issued Thursday, Illinois said it will tax 100 percent of the premiums for multistate policies “and is not currently participating in any tax-allocation agreement.” read more..
By Arthur D. Postal, PropertyCasualty360.com
NU Online News Service, July 22, 2:46 p.m. EDT
Illinois has become the latest large state to adopt a regulation to implement the federal surplus lines reform and modernization law that doesn’t mandate it share revenues with other states.
Through a bulletin issued Thursday, Illinois said it will tax 100 percent of the premiums for multistate policies “and is not currently participating in any tax-allocation agreement.” read more..
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