Form M11l - Insurance Premium Tax Return For Life And Health Companies - 2014 Page 3
Download a blank fillable Form M11l - Insurance Premium Tax Return For Life And Health Companies - 2014 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form M11l - Insurance Premium Tax Return For Life And Health Companies - 2014 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
52014 Insurance Premium Tax Return for Life and Health Companies
.
For insurance tax laws, see Minnesota Statutes, Chapter 297I at
Before You File
The U.S. postmark date, or date recorded or
If you’re not required to pay electronically
marked by a designated delivery service, is
and are paying by check, visit our website
You Need a Minnesota Tax ID
considered the filing date (private postage
at and click on
Your Minnesota tax ID is the seven-digit
meter marks are not valid). When the due
“Make a Payment” and then “By check” to
number you’re assigned when you register
date falls on a Saturday, Sunday or legal
create a voucher. Print and mail the voucher
with the Department of Revenue. You must
holiday, returns and payments electroni-
with a check made payable to Minnesota
include your Minnesota tax ID on your
cally made or postmarked the next business
Revenue.
return so that your filing and any payments
day are considered timely. When a return
you make are properly credited to your
When you pay by check, your check autho-
or payment is late, the date it is received at
account.
rizes us to make a one-time electronic fund
the Department of Revenue is treated as the
transfer from your account, and you may
If you don’t have a Minnesota tax ID, apply
date filed or paid.
not receive your canceled check.
online at or call
Extension for Filing Return. If good cause
651-282-5225 or 1-800-657-3605.
If you make your payments electronically,
exists, you may request a filing extension.
do not send in the vouchers.
It is also important to enter your federal ID
Payments
number and NAIC number on your return,
If you do not pay the correct amount of
but not in place of your Minnesota tax ID
estimated tax by the due dates and your tax
Electronic Payments
number.
liability is more than $500, you may have
If your total insurance taxes and surcharges
to pay an additional charge for underpay-
due for the last 12-month period ending
Filing Requirements
ing. Complete the worksheet on page 3.
June 30 is $10,000 or more, you are required
Overpayments from prior years or prior
All life and health insurance companies
to pay your tax electronically in all subse-
estimated overpayments should be applied
licensed in Minnesota during the tax year
quent years.
before underpayment charges are figured.
must file a premium tax return even if they
You must also pay electronically if you’re
have not actually transacted insurance
Return Payment
required to pay any Minnesota business tax
business in Minnesota during the tax year.
electronically, such as withholding tax.
If there is an amount due on Form M11L,
Insurers with a premium tax liability of
either pay it electronically or by check.
more than $500 must also make estimated
To pay over the Internet, go to the depart-
tax payments. (M.S. 297I.05, subd. 14)
ment’s website at
If you’re not required to pay electronically
and login to e-Services. If you don’t have
and are paying by check, visit our website
Insurance companies are exempt from
Internet access, call 1-800-570-3329 to
at and click on
Minnesota corporation franchise tax. (M.S.
pay by phone. You’ll need your user name,
“Make a Payment” and then “By check” to
290.05, subd. 1c)
password and bank routing and account
create a voucher. Print and mail the voucher
Annual Financial Statements. Insurance
numbers. When paying electronically, you
with a check made payable to Minnesota
companies that do not file statements with
must use an account not associated with any
Revenue.
the NAIC are required to file a copy of their
foreign banks.
When you pay by check, your check autho-
statement with the Department of Revenue
If you use other electronic payment
rizes us to make a one-time electronic fund
(9” x 14” version). If any premiums or
methods, such as ACH credit method or
transfer from your account, and you may
deductions reported on Form M11L cannot
Fed Wire, instructions are available on our
not receive your canceled check.
be verified from the annual statement, you
website or by calling Business Registration
must attach documentation to your tax
Note: If no amount is due or if you pay elec-
Office at 651-282-5225 or 1-800-657-3605.
return substantiating the amounts.
tronically, do not send in a voucher
Estimated Tax Payments
Which Form to File
If your total annual tax liability is more than
$500, you must make estimated payments.
Life and health insurance companies use
To avoid an additional charge for underpay-
Form M11L to file premium taxes.
ing the tax, your payments must be made on
Property, casualty and title insurance com-
time and be at least one-fourth of the prior
panies use Form M11 to file premium taxes.
year’s total annual tax liability, or one-fourth
of 80 percent of the current year’s total an-
Due Date
nual tax liability.
File your Form M11L with all required at-
Estimated payments are due quarterly on
tachments and pay any tax due by March 1.
March 15, June 15, Sept. 15 and Dec. 15.
Payment extensions are not allowed.
When the due date falls on a weekend or
legal holiday, payments made electronically
or postmarked on the next business day are
considered timely.
1
Continued
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial