Form Ig260 - Nonadmitted Insurance Premium Tax Return For Surplus Lines Brokers - Minnesota Department Of Revenue - 2013 Page 4
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42013 Form IG260 Instructions
(continued)
Business Information
Line 8 — Penalty
H. Total Fees and Commissions
(excluding stamping fee)
Late Payment. If you don’t pay all the tax
Changes
Include all fees and commissions paid by
due by the due date, a late payment pen‑
Be sure to let us know within 30 days if you
policyholder to obtain coverage that are not
alty is due. The penalty is 5 percent of the
change mailing addresses, phone numbers,
included in premiums.
unpaid tax for any part of the first 30 days
or any other business information. To do
the payment is late, and 5 percent for each
I. Total Gross Premiums
so, go to our website, login to e‑Services
additional 30‑day period, up to a maximum
Total premiums and all fees and commis‑
and update your profile information. By
of 15 percent.
sions (column G plus column H).
notifying us, we will be able to let you know
Late Filing. Add a late filing penalty to
of any changes in Minnesota tax laws and
J. Return Premiums
the late payment penalty if your return is
filing requirements.
Enter all return premiums. Include a note
not filed by the due date. The penalty is
indicating on which return the original
5 percent of the unpaid tax. When added
Information and Assistance
policy was reported. Return premiums
to the late payment penalty, the maximum
can only be claimed by the broker where
Website:
combined penalty is 20 percent.
the premiums and taxes were originally
Email:
insurance.taxes@state.mn.us
reported.
Payment Method. If you are required to
Phone:
651‑556‑3024 (TTY: Call 711 for
pay electronically and do not, an additional
Minnesota Relay)
Page 1, Line Instructions
5 percent penalty applies to payments not
We’ll provide information in other formats
made electronically, even if a paper check is
Check Boxes
upon request to persons with disabilities.
sent on time.
At the top of the form, check if the return is:
For questions about licensing and regula-
• an Amended Return: Check only if you
Line 9 — Interest
tions, contact the Minnesota Department of
are amending a previously filed return for
You must pay interest on the unpaid tax
Commerce:
the same period. Include all original and
plus penalty from the due date until the
Website:
corrected policies on the amended return.
total is paid. The interest rate for calendar
Email:
companylic.commerce@state.mn.us
year 2013 is 3 percent. The interest rate may
• for No Activity: Check only if you did not
Phone:
651‑296‑6319 or 1‑800‑657‑3602
change for future years.
purchase any insurance from unlicensed
(
: Call Minnesota Relay at 711)
TTY
companies in 2013.
To figure how much interest you owe, use
For questions about stamping fees, contact
the following formula with the appropriate
the Surplus Lines Association of Minnesota
Line 4 — Total Return Premiums
interest rate:
(SLAM):
Enter all return premiums as a positive
Interest = (tax + penalty) × # of days late ×
number.
Website:
interest rate ÷ 365
Email:
Line 5 — Taxable Gross Premiums
Phone:
320‑679‑4244
Gross premiums include fees and commis‑
sions.
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