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Iowa Code § 432A.9

Underwriting profits tax in lieu of other taxes

Iowa · Iowa Code Chapter 432A — Marine Insurance Tax · Status: effective

Taxation
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Iowa Code § 432A.9, Underwriting profits tax in lieu of other taxes, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2248303
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The tax imposed by this chapter shall be paid upon the marine underwriting profits, if any, upon all marine insurance business written in this state each calendar year. The tax on gross premiums under section 432.1 shall not be levied on marine insurance premiums reportable in a tax return prescribed by the commissioner of insurance to record taxable underwriting profit, if any, defined herein. The tax return required shall be in lieu of all other tax requirements imposed by section 432.1.