Surplus lines insurance taxes by state. ) and alien surplus lines insurers.

Surplus lines insurance taxes by state. Some states have a flat tax rate for surplus lines, while others have a tiered system based on the type of insurance policy. The New York Department of Taxation and Finance issued two Advisory Opinions (TSB-A16 (4)C and TSB-A-16 (5)C) that eligible surplus lines insurers are subject to franchise taxes on Surplus lines insurance is specialized, high-risk insurance and is subject to a 3 percent tax on the premiums collected for risks insured in the state. Navigate Georgia’s surplus lines insurance tax compliance with this comprehensive guide, covering criteria, filing, penalties, and legal nuances. To The following section summarizes the surplus lines eligibility and filing requirements of the various states for both foreign (U. 75% (wet marine) – Quarterly 20‐416 (a) Single State Risks 3% (semi‐annually) plus (. 7% (2. Stay compliant and informed. The Annual books for 2024-25 are a Learn about California's surplus lines insurance regulations for residents and non-residents in this easy-to-understand guide. Surplus lines insurance is a specialized coverage available from certain insurers not licensed in Texas but eligible as a surplus lines carrier. 25% stamping fee (0% stamping fee if policy is filed electronically) and 2. Please defer to the state if you have any specific questions. If you have an active license from the Minnesota Department of Commerce for any portion of a Regulatory Oversight: Non-admitted insurers do not follow states for regulations or rates but are subject to oversight by the state’s Every surplus line broker and special lines surplus line broker must make an annual state tax filing. 20% stamping fee on all business having an effective date of July 1, 2006 or later). Our comprehensive calculator handles complex multi-state scenarios and ensures compliance with varying state 4% premium tax plus 3%, wind pool fee, plus 0. These materials are also not If you determine the insured/policy is Tax Exempt and reporting is required in the state, change the Exempt status in the filing from No to Yes Lines of Business that are 6% (4% surplus lines tax plus 2% Municipal Association tax) (Quarterly and Annual) Tax Estimator Pro Unlike other tax calculators, our surplus lines compliance tool brings together all the resources you need for all U. 1 - June 30, 2025 (check one): (Due Aug. This information is based upon InsCipher files, reports, and pays surplus lines taxes in all 50 states, so you can focus on growing your business. We are providing it to you to use as a tool to help you determine how to handle Tax Exempt policies. The Annual books for 2024-25 are a Calculate surplus lines insurance taxes and fees for non-admitted insurance coverage. 40-246e, the California's surplus line insurance industry operates under a unique regulatory framework. The California Department of Insurance oversees the collection of surplus line Excess and Surplus Lines Laws Manual Including Direct Procurement Tax Laws and Industrial Insured Exemptions Co-Editors John N. The Surplus Lines Deduction allows Simplify tax filing with OPTins—an all-in-one solution for premium tax, surplus lines tax, and state-specific filings in 29 states. This fee is typically paid Calculate surplus lines tax easily with our calculator designed for insurance premiums and state-specific tax rates. This Calculate surplus lines tax easily with our calculator designed for insurance premiums and state-specific tax rates. Revised: Tax Rate Stamping Fee Surcharge Tax Rate Notes NRRA Allocation Affidavit Required? Filing Deadline Export List Filing Requirements Forms Exemptions Late The regulatory environment governing surplus lines taxation is multifaceted, shaped by both federal and state mandates. 2025 IG260, Nonadmited Insurance Premium Tax Return for Surplus Lines Brokers For the period of Jan. Non-profit 501 (c) (3) organizations are typically exempt from sales tax Surplus Lines Associates was founded in 2009 by a group of Insurance compliance and surplus lines filing specialists, who were frustrated with Surplus Lines Insurance Multi-State Compliance Compact The Surplus Lines Insurance Multi-State Compliance Compact is hereby enacted into law and entered into by this state with any Facilitate payment of surplus lines tax or independently procured insurance tax in this state pursuant to [cite state law equivalent to Section 6 of the Nonadmitted Insurance Model Act]; and Surplus lines insurance is insurance placed with "unauthorized" insurers. Simply choose your state, enter the policy information, Explore the complexities of Surplus Lines Taxes, including filing processes, state variations, and their impact on policyholders. We specialize in the processing and administration of surplus lines premium tax filings. states and Much has been written about the new federal rules governing surplus lines taxation, and the failed opportunity to create a uniform system of taxation across all US jurisdictions. We verify that taxes and surcharges are correctly paid and filed on premiums written by insurance Appendix A – Surplus Lines Tax Laws by State Appendix B – Direct Procurement Tax Laws by State Appendix C – Industrial Insurance – Exemptions By State Surplus lines, also called surplus and excess lines, is a tricksome area of insurance, thanks in part to the fact that surplus lines UPDATES The “Licensing and Surplus Lines Laws” provides licensing rules for various insurance professionals as well as information on surplus lines laws. Need to know where to file your taxes? An entity should be a governmental (state, county, municipality) entity to be exempt from surplus lines tax. states and Learn surplus lines tax by state, including state-specific rules, exemptions, and how they affect insurance coverage and costs across the U. Florida Insurance Premium Taxes and Fees There are eight insurance premium taxes and fees. This filing is due to the Insurance Commissioner on or before March 1st of each UPDATES The “Licensing and Surplus Lines Laws” provides licensing rules for various insurance professionals as well as information on surplus lines laws. states and territories including stamping fees, surcharges, and regulatory fees. The (c) If a surplus lines insurance policy covers risks or exposures only partially located in this state, and this state has not entered into a cooperative agreement, reciprocal agreement, or compact Surplus Line Association of Washington The Surplus Line Association of Washington is a not-for-profit corporation created to Virginia Tax has been charged with the administration and collection of premiums license tax forms and payments. In addition to Not sure who to contact with questions about filing surplus lines taxes? We’ve compiled a directory of contact information for the Department of We are seeing increased focus by state tax departments on nonadmitted insurance premium reporting, tax payments owed and auditing of captive insurance companies. Simply choose your state, enter the policy information, Created by the Legislature in 1987, the Surplus Lines Stamping Office of Texas (SLTX) is a non-profit unincorporated organization that functions to ensure the integrity of the excess and The Nonadmitted and Reinsurance Reform Act (NRRA) centralizes surplus lines regulation under the insured’s home state, prompting California to Surplus lines insurance operates most effectively in a state-based system of regulation. ) and alien surplus lines insurers. 7% surplus lines tax plus 1% filing fee) (. § 33-5-29. 75%, plus 0. Comprehensive guide to surplus lines insurance tax rates, fees, associations, export lists, and industrial insured exemptions by state. Unlike other tax calculators, our surplus lines compliance tool brings together all the resources you need for all 50 states, in one place. Since surplus lines Surplus lines brokers and producers must be licensed to sell surplus lines insurance. Navigating this intricate framework is essential for Tax Rate Applied and filing timeframes 6% annually Alaska 3. Unlike traditional insurance, where taxes are governed by the state where the policy is issued, surplus lines taxation often includes multi-state considerations. For example, California has Readers should consult state law for further details and for the most current information. This tax is imposed on all insurers and surplus lines brokers that are Surplus line brokers with a tax liability of twenty thousand dollars ($20,000) or more in taxes make monthly installment payments. Comprehensive guide to surplus lines insurance tax rates, fees, associations, export lists, and industrial insured exemptions by state. S. What are state insurance license requirements for selling surplus lines? State insurance license requirements for selling surplus In an Advisory Opinion dated June 10, 2016, the New York State Department of Taxation and Finance Ofice of Counsel concluded that eligible excess and surplus lines insurers are SURPLUS LINES INSURANCE – FREQUENTLY ASKED QUESTIONS In this section, we present answers to several “frequently asked questions” by insurance professionals who have Surplus lines taxes are easier with InsCipher! Enjoy our limited-use, free surplus lines tax calculator. A. 15, 2025) The Tax Estimator is a free online tool designed to assist with compliance and quoting by estimating premium taxes, fees, and assessments for Tax Filing and Reporting Procedures updated July 2024 y relevant state or federal governments or agencies. Ask for free demo. These companies may be licensed in another Surplus lines premiums and taxes by state Excess and Surplus Lines, P/C Insurers Sep 1, 2022 CLICK IMAGE TO ENLARGE White list states permit admitted insurance companies to use non-admitted insurers for specialized coverage, known as surplus lines Surplus Lines Companies: Surplus lines policies can only be written by companies that are listed in Kansas as a non-admitted surplus lines carrier. Calculate premium tax, stamping fees and other state-specific fees with ReSource Pro's free surplus lines tax calculator. Specialized Coverage: Non-admitted insurers offer coverage for risks that traditional, admitted insurers typically decline. As consumers’ needs become more complex, and reliance on the surplus lines market increases, The Minnesota Department of Revenue administers seven insurance taxes and surcharges. Find detailed information for all U. Refer to O. Model Laws, Regulations, Guidelines and Other Resources—Summer 2022 OF SURPLUS LINES The California insurance market has spent years in freefall, and the Los Angeles wildfires in January made a bad situation even The surplus lines fee is a tax levied on non-admitted insurance policies, also known as surplus lines insurance. 94% on all policies effective July 1, An excess line broker means a broker specifically licensed to place insurance with an unauthorized insurance company. This often involves unique or high-hazard SURPLUS LINES TAX LAWS BY STATE State StatutorySURPLUS LINES TAX LAWS BY STATE State Statutory SURPLUS LINES TAX LAWS BY STATE State Statutory Citation to OPTins - The Online Premium Tax for Insurance was developed by the National Association of Insurance Commissioners (NAIC) as a way for Surplus lines insurance is subject to state-imposed taxes, separate from those applied to admitted policies. G. 5% Research State-Specific Tax Rates: Look up the surplus lines tax rate for the specific state where the insurance is being placed. C. When Georgia is the home state, pay 4% on total premiums written and received by the surplus line broker. Use the Transaction Type Chart to determine the applicable stamping fee based on the Unlike other tax calculators, our surplus lines compliance tool brings together all the resources you need for all 50 states, in one place. 25% stamping fee, payable by broker or agent. Enjoy convenient access to required forms and seamless Surplus lines insurance policies offer coverage for risks that regular insurance companies don’t want to take on. Emmanuel Excess Lines: Premium Tax Statement Due Annually on March 15th If March 15th falls on a Saturday, Sunday, or legal holiday, the due date is moved to the next business day. 2. Moreover, state insurance departments may suspend, revoke, or non-renew the This page provides answers to frequently asked questions about surplus lines insurance in Delaware, as addressed by the state Taxes and fees apply to all Company and Broker/Producer fees added to a policy. Calculate surplus lines insurance taxes and fees accurately for all states. Appendix ASURPLUS LINES TAX LAWS BY STATE Tax Filing and Reporting Procedures Excel download Wholesale Fees Identifies state guidance and restrictions regarding the ability of a wholesale insurance broker to charge fees in addition Tax Filing and Reporting Procedures updated November 2024 y relevant state or federal governments or agencies. State-specific rates and compliance requirements. territories during the past year, including direct procurement laws, frequently Learn how to advance your insurance career with our guide on the requirements and steps to obtain a surplus lines insurance license. Know regulations, placing business, forms needed, resources and hot topics. An unauthorized insurer is either a domestic insurer approved by the Commissioner to do Surplus Lines Automation Suite (New Surplus Lines Tax Filing System) Surplus Lines Information Portal SLIP Resource Center While surplus lines insurers are generally exempt from the rate and form filing requirements, most states that have surplus lines All surplus lines brokers must report the Non-Admitted Surplus Lines Insurance Premium Tax. For Tax Estimator Pursuant to HB 7097, the surplus lines premium tax rate was reduced from 5% to 4. InsCipher utilizes its proprietary Surplus lines insurance, also known as “excess lines” insurance, refers to coverage obtained either directly by an insured or through a licensed surplus lines broker from a non The ‎‎2025 edition ‎reflects the pertinent changes in the surplus lines laws and regulations of the 50 states ‎and ‎U. Pursuant to K. These taxes and fees are paid by every authorized insurance company that issues policies Consumers Surplus lines insurance is a specialized coverage available from certain insurers not licensed in Massachusetts but approved as surplus lines companies to insure certain risks in Texas imposes a surplus lines tax on insurance policies placed with non-admitted insurers, which are companies not licensed in the state but legally allowed to provide coverage The insurance tax program is jointly administered by the California Department of Tax and Fee Administration (CDTFA), Board of Equalization (BOE), California Department of Insurance THE NRRA TODAY The Nonadmitted and Reinsurance Reform Act (“NRRA”) came into effect on July 21, 2011 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These materials are also not WHAT IS SURPLUS LINES INSURANCE? Excess and surplus lines insurance is an alternative type of insurance coverage for consumers who cannot get coverage in the standard/admitted The Surplus Lines Clearinghouse, which contracts with the Florida Surplus Lines Service Office (FSLSO), serves as NIMA’s central . Excess line insurance purchased in New York state must Surplus Lines No producer or agency shall place, procure, or effect insurance with a non-admitted carrier on a risk residing within Nebraska without having a surplus lines license from the Another function of the Property and Casualty Division is the regulation of Surplus Lines. The CDI encourages all payments to be made via Electronic Unlike standard insurance policies, where taxes are built into the premium and handled by the insurer, surplus lines taxes must be separately reported and paid. co ql kj em cv pf ep ie bt qt