Form Ig260 - Nonadmitted Insurance Premium Tax Return For Surplus Lines Brokers - Minnesota Department Of Revenue - 2013 Page 3
Download a blank fillable Form Ig260 - Nonadmitted Insurance Premium Tax Return For Surplus Lines Brokers - Minnesota Department Of Revenue - 2013 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 Ig260 - Nonadmitted Insurance Premium Tax Return For Surplus Lines Brokers - Minnesota Department Of Revenue - 2013 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
42013 Form IG260 Instructions
For insurance tax laws, see Minnesota Statutes, Chapter 297I at
Due Dates
All surplus lines brokers licensed to do busi‑
If you use other electronic payment methods,
ness in Minnesota must file Form IG260,
such as ACH credit method or Fed Wire,
File Form IG260 with all required attach‑
Semiannual Statement of Surplus Lines
instructions are available on our website or
ments and pay any tax due by:
Insurance, even if there is no activity or tax
by calling our Business Registration Office
• Aug. 15 (for the six-month period ending
liability to report.
at 651‑282‑5225 or 1‑800‑657‑3605.
June 30); and
(M.S. 297I.05, subd. 7)
Submit separate payments for each return.
• Feb. 15 of the following year (for the six-
Check Payments (Form PV53)
month period ending Dec. 31).
Filing Requirement
If you are not required to pay electroni‑
This form must be filed even if no tax is due
Effective July 21, 2011, the Nonadmit‑
cally and choose to pay by check, complete
for the period.
ted and Reinsurance Reform Act of 2010
a PV53 payment voucher and mail it with
(NRRA) permits only the insured’s home
The U.S. postmark date, or date recorded or
your check. Write your Minnesota tax ID
state to require the payment of premium tax
marked by a designated delivery service, is
number on your check.
for nonadmitted insurance.
considered the filing date (private postage
When you pay by check, your check autho‑
meter marks are not valid). When the due
When Minnesota is the home state of the
rizes us to make a one‑time electronic fund
date falls on a Saturday, Sunday or legal
insured, as provided under M.S. 297I.05,
transfer from your account, and you may
holiday, returns and payments electronically
subd. 7, 100 percent of the gross premiums
not receive your canceled check.
made or postmarked on the next business
are taxable in Minnesota with no allocation
day are considered timely. When a return
of the tax to other states.
How to Complete the Form
or payment is late, the date it is received at
Complete page 2 before page 1 of Form
“Home state” means the state in which an
the Department of Revenue is treated as the
IG260.
insured maintains its principal place of
date filed or paid.
business, or in the case of an individual, the
Page 2, Column Instructions
Extension for Filing Return. If good cause
individual’s principal residence.
exists, you may request a filing extension.
A. NAIC Number
However, if 100 percent of the insured
Enter the NAIC number.
risk is located outside Minnesota, then the
Rules for Using Spreadsheets
insured’s home state is the state to which the
B. Name of Insurer
If you are using your own spreadsheet, you
greatest percentage of the insured’s taxable
List the insurers. Include policies for insur‑
must include all the information and in the
premium for that insurance contract is al‑
ance companies without NAIC numbers.
same format as on page 2 of Form IG260,
located.
C. Policy Number
including subtotals on each page. Your filing
The policy number (modified by the month
will not be considered complete if all infor‑
Minnesota Tax ID Required
and year that the policy was issued) is the
mation, including subtotals, is not included.
Surplus lines insurance brokers are re-
controlling number for reporting surplus
quired to have their own Minnesota tax ID
If you have more than two pages of surplus
lines policies and any subsequent activity
number. This is not a Social Security num‑
lines insurance, submit an electronic file in
during the policy period, i.e., endorsements,
ber or agency Minnesota tax ID number.
addition to the printout. The files must be in
audits and/or cancellations.
a Microsoft Excel format.
If you don’t have a Minnesota tax ID, you
D. Effective Date (required)
can apply online. Go to our website at
Payments
Enter the effective date of the transaction.
and click “Regis‑
Electronic Payments
E. Name of Insured
ter for a Minnesota tax ID number” on the
If your total insurance taxes and surcharges
Provide the name of the insured.
e‑Services menu. Note: During the process,
for the last 12‑month period ending June 30
be sure to select “Sole proprietor” as the type
F. Policy Transaction Type
is $10,000 or more, you are required to pay
of legal organization. Use NAICS classifica‑
Enter one of the following numbers:
your tax electronically.
tion number 524210.
1 = New business
4 = Audit
You must also pay electronically if you’re
If you don’t have access to the Internet, call
2 = Renewal
5 = Reinstatement
required to pay any Minnesota business tax
651‑282‑5225 or 1‑800‑657‑3605 to register
3 = Cancellation
6 = Endorsement
electronically, such as withholding tax.
by phone.
G. Total Premiums
To pay over the Internet, go to the depart‑
Include all premiums paid by companies
ment’s website at
with a home state of Minnesota for risks
and login. If you don’t have Internet access,
located in the United States and U.S. ter‑
call 1‑800‑570‑3329 to pay by phone. You’ll
ritories.
need your user name, password and bank
routing and account numbers. When paying
electronically, you must use an account that
Continued
is not associated with any foreign banks.
1
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Ig255 - Nonadmitted Insurance Premium Tax Return For Direct Procured Insurance - Minnesota Department Of Revenue - 2013
Financial
Form Ig255 - Nonadmitted Insurance Premium Tax Return For Direct Procured Insurance - 2012
Financial
Form Ig255 - Nonadmitted Insurance Premium Tax Return For Direct Procured Insurance - 2014
Financial
Form Ig255 - Nonadmitted Insurance Premium Tax Return For Direct Procured Insurance - 20121
Financial
Related Categories
Parent category: Financial