New York

 
Total number of active captives
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Total number of active captives, prior year
58
Types of captives allowed
  • Single parent captives
Premium tax rate
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Applicable Acts/Enabling Legislation
New York Insurance Law - Article 70. Insurance companies are taxed under Article 33 of the New York Tax Law. Chapter 389 of the Laws of 1997 amended various sections of that Article (and added new Section 1502-b) to impose a premium tax (referred to as a “franchise tax” under New York law) on captive insurance companies. These and other tax law provisions were subsequently amended by Chapters 62 and 188 of the laws of 2003; Chapter 57 of the Laws of 2009; and Chapter 59 of the Laws of 2014. The tax on captive insurers is set forth in Section 1502-b. Captives are not subject to any other taxes under Article 33 of the New York Tax Law.
Captive Administrator’s name and longevity in position and also within department
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Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.nycaptives.com