§ 9111-c. Temporary franchise tax on certain insurance companies. (a)\nImposition. (1) For the privilege of conducting business in this state\nand in addition to any other requirements therefor, every insurance\ncompany subject to the franchise tax imposed by subdivision (a) of\nsection fifteen hundred ten of the tax law, other than insurance\ncompanies whose premiums are received solely as consideration for\naccident and health insurance policies, shall pay a franchise tax of two\npercent of all gross direct premiums, less return premiums thereon,\nwritten during the "event year" as such term is defined in the following\nsentence on risk located or residing in this state. For the purposes of\nthis section, "event year" shall mean (A) the calendar year preceding\nany calendar year in which the association fails to make transfers and\ndeposits to the miscellaneous special revenue fund that have been\nauthorized by subsections (a) and (b) of section five thousand five\nhundred sixteen-f of this chapter or (B) the calendar year preceding the\nyear in which a final judicial determination invalidating some or all of\nthe provisions of such section five thousand five hundred sixteen-f\nrequires a return from the miscellaneous special revenue fund of any or\nall of the amounts transferred and deposited in such miscellaneous\nspecial revenue fund pursuant to such section five thousand five hundred\nsixteen-f.\n (2) Determination of direct premiums general provisions. (A) The term\n"premium" includes all amounts received as consideration for insurance\ncontracts or reinsurance contracts, other than for annuity contracts,\nand shall include premium deposits, assessments, policy fees, membership\nfees, and every other compensation for such contract. In ascertaining\nthe amount of direct premiums upon which a tax is payable under this\nsection there shall be first determined the amount of total gross\npremiums or deposit premiums or assessments, less return thereon, on all\npolicies, certificates, renewals, policies subsequently cancelled,\ninsurance and reinsurance executed, issued or delivered on property or\nrisks located or resident in this state, including premiums for\nreinsurance assumed, and also including premiums written, procured or\nreceived in this state on business which cannot specifically be\nallocated or apportioned and reported as taxable premiums or which have\nbeen used as a measure of a tax on business of any other state or\nstates. Provided, however, in the case of special risk premiums, direct\npremiums shall include only those premiums written, procured or received\nin this state on property or risks located or resident in this state.\nThe reporting of premiums for the purpose of the tax imposed by this\nsection shall be on a written basis or on a paid-for basis consistent\nwith the basis required by the annual statement filed with the\nsuperintendent pursuant to section three hundred seven of this chapter.\n (B) The term "gross direct premiums," as used in this section, shall\nnot include premiums for policies issued pursuant to section four\nthousand two hundred thirty-six of this chapter and premiums for\ninsurance upon hulls, freights, or disbursements, or upon goods, wares,\nmerchandise and all other personal property and interests therein, in\nthe course of exportation from, importation into any county, or\ntransportation coastwide, including transportation by land or water from\npoint of origin to final destination in respect to, appertaining to, or\nin connection with, any and all risks or perils of navigation, transit\nor transportation, and while being prepared for, and while awaiting\nshipment and during any delays, storage, transshipment or reshipment\nincident thereto, including war risks and marine builder's risks.\n (C) After determining the amount of total gross premiums, less returns\nthereon, as provided in this subsection, there shall be deducted the\nfollowing items:\n (i) Such premiums, les
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