Legislative Update: Delaware’s Premium Tax for Trust-Owned Private Placement Life Insurance is Now 0%
On May 5, 2016, House Bill 273, was created and signed into effect by Delaware Governor Jack Markell. Delaware’s premium tax for trust-owned Private Placement Life Insurance is now 0% over the first $100,000 in a calendar year. Please contact us to discuss how this new change in Delaware’s PPLI premium tax is advantageous to you/your clients.
You may also find of interest the article recently published by Todd Flubacher, Esquire of the firm Morris, Nichols, Arsht & Tunnell LLP, entitled “Yes PPLIease! A New Day for Private Placement Life Insurance Planning in Delaware”.
Should you have any questions regarding this legislative update, please contact our Director of Business Development, Dave Riebe, at 302.658.7214 or by email at email@example.com or any member of our Business Development Group.
Commonwealth Trust Company is pleased to provide this article as a guide. Commonwealth Trust Company is not engaged in the practice of law and is not providing legal advice by the provision of these materials. Commonwealth Trust Company recommends that clients seek the opinion of their attorney regarding the specific legal and tax issues addressed in this article.