Form Ins-6 - Maine Estimated Quarterly Return For Surplus Lines Premium Tax (Page 2 of 2) in pdf

INSTRUCTIONS

Line 1: Quarterly Tax Estimate. For first quarter, this line must equal 35% of total annual liability. ........

.00

Line 2: Overpayment From Prior Year. If the Form INS-7 for the previous year showed an amount to

be credited to this year’s liability, enter that amount here. You may subtract this amount from the quarterly

payment(s) due for the current year. If the amount is not fully expended in the first quarter, it may be

applied in subsequent quarters until it is fully expended. ................................................................................

.00

Line 3: Estimated Payment. Subtract Line 2 from Line 1. Enter result here and in Estimated Payment

space on front of form. (If less than zero, enter zero) ....................................................................................

.00

INTEREST & PENALTY

The State Tax Assessor annually establishes the interest rate. Beginning January 1, 2005, the interest rate is 0.667% per month; 8% per year,

compounded monthly.

The penalty for failure to file a return is the greater of $25 or 10% of the tax due, unless the return is filed more than 30 days after the receipt of a

demand notice from the State Tax Assessor, in which case the failure-to-file penalty becomes 100% of the tax otherwise due.

The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure

continues, to a maximum of 25% of the outstanding liability.

STATUTORY REFERENCES

This return is made in compliance with the provisions of 36 M.R.S.A.§2521-A.

INSTRUCTIONS

Line 1: Quarterly Tax Estimate. For second quarter, this line must equal 35% of total annual liability. ....

.00

Line 2: Overpayment From Prior Year. If the Form INS-7 for the previous year showed an amount to

be credited to this year’s liability, and that amount was not fully expended in the first quarter, enter the

unexpended portion of it here. You may subtract it from the quarterly payment(s) due for the current

year until it is fully expended. ..........................................................................................................................

.00

Line 3: Estimated Payment. Subtract Line 2 from Line 1. Enter result here and in Estimated Payment

space on front of form. (If less than zero, enter zero) ....................................................................................

.00

INTEREST & PENALTY

The State Tax Assessor annually establishes the interest rate. Beginning January 1, 2005, the interest rate is 0.667% per month; 8% per year,

compounded monthly.

The penalty for failure to file a return is the greater of $25 or 10% of the tax due, unless the return is filed more than 30 days after the receipt of a

demand notice from the State Tax Assessor, in which case the failure-to-file penalty becomes 100% of the tax otherwise due.

The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure

continues, to a maximum of 25% of the outstanding liability.

STATUTORY REFERENCES

This return is made in compliance with the provisions of 36 M.R.S.A.§2521-A.

INSTRUCTIONS

Line 1: Quarterly Tax Estimate. For third quarter, this line must equal 15% of total annual liability. .......

.00

Line 2: Overpayment From Prior Year. If the Form INS-7 for the previous year showed an amount to

be credited to this year’s liability, and that amount was not fully expended in the first and second quarters,

enter the unexpended portion of it here. You may subtract it from the quarterly payment(s) due for the

current year until it is fully expended. ..............................................................................................................

.00

Line 3: Estimated Payment. Subtract Line 2 from Line 1. Enter result here and in Estimated Payment

space on front of form. (If less than zero, enter zero) ....................................................................................

.00

INTEREST & PENALTY

The State Tax Assessor annually establishes the interest rate. Beginning January 1, 2005, the interest rate is 0.667% per month; 8% per year,

compounded monthly.

The penalty for failure to file a return is the greater of $25 or 10% of the tax due, unless the return is filed more than 30 days after the receipt of a

demand notice from the State Tax Assessor, in which case the failure-to-file penalty becomes 100% of the tax otherwise due.

The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure

continues, to a maximum of 25% of the outstanding liability.

STATUTORY REFERENCES

This return is made in compliance with the provisions of 36 M.R.S.A.§2521-A.