New York Consolidated Laws, Tax Law - TAX § 1501. Imposition of tax

(a) Every domestic insurance corporation and every foreign or alien insurance corporation, for the privilege of exercising its corporate franchise, or of doing business, or of employing capital, or of owning or leasing property in this state in a corporate or organized capacity, or of maintaining an office in this state, for all or any part of its taxable year, except corporations specified in subdivision (a) of section fifteen hundred twelve, shall annually pay a franchise tax which shall be computed as provided in section fifteen hundred two.

(b) Every life insurance corporation which shall obtain a certificate of authority to transact business in this state or a renewal of such certificate from the superintendent of financial services shall, upon the expiration of such certificate for any cause or upon its ceasing to transact new business in this state, continue to pay a tax upon its business remaining in force in this state as provided in section fifteen hundred two.