Captive insurance update: State actions and the impact of Dodd-Frank adoption

myStateTaxOffice

On July 21, 2010, President Obama signed P.L. 111-203, the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"). A portion of that legislation, the Nonadmitted and Reinsurance Reform Act (Title V, Subtitle B, Sections 511 - 527), significantly changes the state tax regime applicable to non-admitted insurance companies, including certain captive insurance companies. This portion of Dodd-Frank had a delayed effective date of July 21, 2011.



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