Ohio Code § 5729.03

§ 5729.03.

(A) If the superintendent of insurance finds the annual statement required by section 5729.02 of the Revised Code to be correct, the superintendent shall compute the following amount, as applicable,

of the balance of such gross amount, after deducting such return premiums and considerations

received for reinsurance, and charge such amount to such company as a tax upon the

business done by it in this state for the period covered by such annual statement: (1) If the company is a health insuring corporation, one per cent of the balance of premium

rate payments received, exclusive of payments received under the medicare program

and exclusive of payments received pursuant to the medicaid program for the period

ending September 30, 2009, as reflected in its annual report; (2) If the company is not a health insuring corporation, one and four-tenths per cent

of the balance of premiums received, exclusive of premiums received under the medicare

program and exclusive of payments received pursuant to the medicaid program for the

period ending September 30, 2009, as reflected in its annual statement, and, if the

company operates a health insuring corporation as a line of business, one per cent

of the balance of premium rate payments received from that line of business, exclusive

of payments received under the medicare program and exclusive of payments received

pursuant to the medicaid program for the period ending September 30, 2009, as reflected

in its annual statement. Each foreign insurance company, including health insuring corporations, receiving

payments pursuant to the medicaid program during the period beginning October 1, 2009,

and ending December 31, 2009, shall file with the 2009 annual statement to the superintendent

a schedule that reflects those payments received pursuant to the medicaid program

for that period.  The payments reflected in the schedule, plus all other taxable premiums, are subject

to the annual franchise tax due to be paid in 2010. (B) Any insurance policies that were not issued in violation of Title XXXIX of the Revised

Code and that were issued prior to April 15, 1967, by a life insurance company organized

and operated without profit to any private shareholder or individual, exclusively

for the purpose of aiding educational or scientific institutions organized and operated

without profit to any private shareholder or individual, are not subject to the tax

imposed by this section.  All taxes collected pursuant to this section shall be credited to the general revenue

fund. (C) In no case shall the tax imposed under this section be less than two hundred fifty

dollars.