MS SB2792

Imposes a 3% insurance premium tax on foreign personal surety companies doing business in Mississippi, consistent with taxes on other foreign insurance companies.

Extends the 3% insurance premium tax to domestic companies on gross premiums collected from personal surety bail bonds.

Allows domestic insurance companies to deduct additional retaliatory taxes paid to other states from their Mississippi income tax liability.

Requires domestic insurance companies filing statements with the Department of Revenue to itemize all additional retaliatory premium taxes paid to other states.

Effective date: July 1, 2015.