Petitioner, a health maintenance organization, is subject to Iowa's gross premium tax on insurance companies but does not pay the tax due to an exemption. Petitioner asks whether they are considered an insurance company as the term is used in Iowa Code section 422.34 which would exempt them from Iowa corporate income tax. The Director found that Petitioner is considered an insurance company as that term is used in Iowa Code section 422.34 and therefore, is exempt from Iowa corporate income tax.
2023-10-12