Michigan enacted its captive insurance legislation in 2008. It joins Illinois as the only other upper Midwest state with captive laws. Unlike many other domiciles, Michigan charges captive parents fees linked to premium volume instead of premium taxes. The annual fees range from $5,000 for captives with premiums of less than $5 million to $100,000 for captives with premium volume of at least $75 million. As with the other relatively new captive domicile states, whether Michigan develops into a major captive domicile depends on regulators' attitude and approach to captive insurance over the long term.