Factory mutuals shall pay the tax imposed by NRS 680B.027 on all gross premiums upon policies on risks located in this state in force on December 31 next preceding, after deducting from the gross direct premiums dividends written and returns to policyholders computed at the average rate on annual policies expiring during the preceding year, whether actually paid or applied in part payment of any renewal premiums.
(Added to NRS by 1983, 713; A 1991, 2030)