Coastal County Insurance Premium Tax Credit Worksheet
Credit incentive for licensed property & casualty insurers providing new full coverage
policies which are effective on or after July 1st 2014, specifically including wind
and hail coverage. Only on properties that as of the time of writing are
or were insured for wind coverage through the Alabama Insurance Underwriting Association.
The insured property must be within Zones M1, M2, M3, M4, M5, B1, B2, B3, B4, B5
or Gulf Front.
The credit is nonrefundable.
The amount paid for premiums for which the credit is claimed cannot be excluded
from gross income for the taxable year.
Documentation must include a policy listing that has been verified by the AIUA.
Please e-mail a policy listing in excel format to the AIUA at
CoastalPremiumTaxCredit@aiua.org. The listing should include the AIUA policy
number, policyholder’s name, property address and policy period, insurance company
policy number and premium. We do not need to know the premium charged by the AIUA.
Once the AIUA has verified its information on the listing, it should be e-mailed
to the AL Department of Insurance at
At the time of writing, your producer should ascertain from the policyholder whether
or not the coverage on the property is currently with the AIUA. Do not furnish the
AIUA a list of every policy that you write in Mobile and Baldwin counties for them
to research for you. The list that you furnish to the AIUA is for their verification
of properties, that according to your records, were insured with the AIUA at the
time of your writing.
Tax rate for property casualty insurers is 3.6% unless specifically reduced by the
Alabama Insurance Office Facilities Credit or Alabama Real Property Investment Credit
in accordance with AL code section 27-4A-3(3).
Company Name & NAIC Number:
Please read the following statement and check the box if you agree.