A Firm Foundation: How Insurance Supports the Economy

All insurance companies pay a state tax based on their premiums. Other payments are made to states for licenses and fees, income and property taxes, sales and use taxes, unemployment compensation taxes and franchise taxes.

Premium Taxes By State, Property/Casualty And Life/Health Insurance, 2016

($000)

State Amount State Amount
Alabama  $317,657 Montana $98,463
Alaska 64,400 Nebraska 65,465
Arizona 545,124 Nevada 310,223
Arkansas 192,020 New Hampshire 113,473
California 2,561,932 New Jersey  605,447
Colorado 277,647 New Mexico 214,688
Connecticut 208,895 New York  1,539,422
Delaware 96,279 North Carolina 503,407
DC 106,887 North Dakota 65,113
Florida 705,400 Ohio 579,408
Georgia 428,700 Oklahoma  322,604 
Hawaii 157,900 Oregon 86,283
Idaho 87,727 Pennsylvania 820,513
Ilinois 424,959 Rhode Island 113,993
Indiana 235,024 South Carolina 246,059
Iowa 119,571 South Dakota 86,879
Kansas 305,631 Tennessee 885,037
Kentucky 145,250 Texas 2,171,362
Louisiana 518,906 Utah 133,157
Maine 102,528 Vermont 59,055
Maryland 552,526 Virginia 491,495
Massachusetts 406,796 Washington 534,663
Michigan 328,138 West Virginia 158,315
Minnesota 457,876 Wisconsin 196,543
Mississippi 317,659 Wyoming 27,991
Missouri 400,734 United States $20,495,224

Source: U.S. Department of Commerce, Bureau of the Census.

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