Principal Mutual Life Insurance Co. v. State, Division of Insurance, Department of Commerce & Economic Development

OPINION

RABINO WITZ, Justice.

In 1957, the Alaska legislature amended its tax on insurance premiums to impose a tax rate on insurers based outside of Alaska (hereinafter “foreign insurers”) double that imposed on Alaska-based insurers (hereinafter “domestic1 insurers”).2 Alaska’s differential premium tax remained in effect from 1957 until its repeal in 1986. This repealed tax was codified in Alaska Statute 21.09.210(b):

Each insurer ... shall pay a tax on the total direct premium income ... for the insurance of property or risks resident or located in the state [subject to enumerated exceptions…