The Administrative Tax Division is responsible for the collection of license tax payments and various assessment payments collected by the Bureau of Insurance. It is also responsible for the audit of all tax/assessment reports.

For the privilege of doing business in the Commonwealth, an annual license tax is levied on insurance companies, as defined in § 38.2-100, and surplus lines brokers licensed pursuant to Chapter 48 of the Code of Virginia. In addition to the annual license tax, insurance companies and surplus lines brokers are also subject to the Assessment for the Maintenance of the Bureau of Insurance. Insurance companies (based on the lines of authority it has in Virginia) could also be subject to any of the following assessments:

• Fire Programs Fund Assessment
• Flood Prevention and Protection Assistance Fund Assessment
• Help Eliminate Automobile Theft (HEAT) Fund Assessment
• Fraud Assessment
• MCHIP (Managed Care Health Insurance Plan) Assessment

For more information, see Chapter 4 of Title 38.2 and Chapter 25 of Title 58.1 under Tax, Assessment and Related Code Sites.

Bureau of Insurance Premium License Tax Transition Notification to Insurers

Virginia Tax Department Premium License Tax Transition Notification

Tax, Assessment and Related Code Sites

Insurance Company Tax Filing Information

Surplus Brokers Tax Filing Information

Tax Rates