payment to a state or municipality by an insurance company based on premiums paid by residents
yes
A tax the state creates and collects.
What is the definition of premium leverage
The tax amount which is paid on the premiums collected for a particular period by a insurance company which was to be paid to the state government.
It is your total premium paid.
In fact, gross annual premium includes tax element including service tax charged on premium amount.
Yes there is. It is a Sales Tax by definition even though you are not selling.
Yes, you may need to report your health insurance premium for tax purposes, depending on your specific situation and the tax laws in your country. It is important to consult with a tax professional or refer to the official tax guidelines to determine if you are required to report your health insurance premium.
The answer depends on how the premium cost was funded. If your employer contributes to the cost of the premium, your benefit is taxable. If you paid the premium via pre-tax deductions, your benefit is taxable. If you paid the entire premium yourself via using after tax dollars, your benefit is not taxable.
2.55%
Advance Premium Tax Credit
definition of tax nation