Appeal in Johnson & Johnson New Jersey IPT Case Decided for Taxpayer

December 16, 2020

The claim by Johnson & Johnson for refund of insurance premium tax (IPT) (otherwise known in the industry as "direct placement tax"), which was paid to the State of New Jersey, seems to finally have been decided. Read More

Accounting, Tax, Advisory Firm Rives & Associates Rebrands as RH CPAs

November 17, 2020

Rives & Associates, a North Carolina-based firm specializing in accounting, tax, and advisory services, has adopted the new name RH CPAs, PLLC, (RH) to support its growth and recognize an expanded leadership team. RH serves a broad base of clients throughout the United States and international markets. Read More

Tax, Investments, and PRIA: How the US Election Impacts Captives

November 12, 2020

Uncertainty and political rhetoric may cloud the US presidential election results, but it is possible to begin assessing how the results may impact captive insurers. In a special bonus episode of the Global Captive Podcast, Richard Cutcher spoke to experts on tax, the investment markets, and legislative activity in Congress. Read More

Minnesota Includes Captives in Direct Procurement Tax Form Changes

September 8, 2020

The Minnesota Department of Revenue is taking comments on proposed changes that, among other things, would specify that the state's nonadmitted premium tax for direct procured insurance applies to captive insurance. The proposal would modify Form IG255, the state's nonadmitted insurance premium tax return form, to specifically mention captives. Read More

SIIA Seeks Treasury Department Review of IRS 831(b) Captive Activities

June 19, 2020

In a letter to US Treasury Secretary Steven Mnuchin and Russel Vought, acting director of the Office of Management and Budget, the Self-Insurance Institute of America (SIIA) has asked the Treasury Department to review activities of the Internal Revenue Service (IRS) related to 831(b) captive insurance companies. Read More