Every domestic insurance company coming within the scope of the definition of a domestic
company in section 1 of chapter 175, except life insurance companies with respect to amounts received as consideration
for annuity contracts and business taxable under section 20 and marine, or fire and marine, insurance companies with respect to business taxable
under section 29A, shall annually pay an excise of 2.28 per cent upon the gross premiums for all policies
written or renewed, all additional premiums charged, and all assessments made by such
company on policyholders during the preceding calendar year, exclusive of reinsurance;
but such premiums and assessments for policies written or renewed for insurance,
exclusive of reinsurance, of property or interests in other states or countries where
a tax is actually paid by such company, or its agents, shall not be so taxed. For purposes of calculating the credit under section 29E of this chapter, the term “surtax” is hereby defined as the portion of the excise imposed under this section equal
to 0.28 per cent.
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