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Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization. The NAIC acts as a forum for the creation of model laws and regulations.
New Jersey does not charge sales tax on goods purchased for resale or on capital improvements but does charge sales tax on certain services. [159] New Jersey does not charge sales tax on gas, however, that is subject to a $0.375/gallon excise tax. Cigarettes are subject to a $2.70/pack excise tax, in addition to sales tax.
As we ring in the new year New Jersey will see a number of new laws taking effect. Here is what you need to know about some of 2024's new laws. New NJ laws are going into effect in 2024.
What is the new insurance law in California? Old minimum car insurance liability limits: 15/30/5. New minimum car insurance liability limits: 30/60/15. Change effective Jan. 1, 2025.
Missouri also imposes a use tax on tangible personal property that is stored, used, or consumed in Missouri but not subject to the sales tax. [ 11 ] In addition to the state sales tax rate, counties, cities, and other political subdivisions are permitted to impose their own sales taxes. [ 12 ]
An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
Admission to sporting events in New Jersey are subject to a 2% sports and entertainment facility tax rate in addition to the 6.625% sales tax rate, for a total rate of 8.625%.