Form Em - Foreign Or Alien Companies Other Than Life - 2013 Page 6
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6EM-(11-13)
Page 6
CALCULATING PREPAYMENT – SCHEDULE A LINE 34
If the Total Tax on line 16 was calculated using Schedule C, Section II, then the prepayment of Schedule A, Line 34 should
be computed as follows: Multiply the prepayment base by 12.5% then by 2.1%. Fifty percent of this figure is the prepayment. Attach
a copy of your worksheet to the return, showing the calculation of the prepayment:
Total Worldwide Premiums
A $___________________
Worldwide New Jersey Fire Premiums
B $___________________
Worldwide Premium prepayment base (Line A minus Line B)
$___________________
If the Total Tax on line 16 was calculated using Schedule A, Line 12 then the prepayment on Schedule A Line 34, should be
completed as follows: Fifty percent of the sum of Column 5, Line 5 plus line 11.
ELECTRONIC FUNDS TRANSFERS
The Division of Taxation has established procedures to allow the remittance of tax payments through electronic funds
transfer (EFT). Taxpayers with a prior year’s tax liability of $10,000 or more in any one tax are required to remit all tax payments
using EFT.
For EFT program questions, visit the Division of Revenue website at ,
call the EFT Unit at (609) 292-9292 Opt #6, Fax (609) 984-6681 or write to the N.J. Division of Revenue, EFT Section, P.O. Box 191,
Trenton, N.J. 08646-0191.
If remitting payment by EFT, the Total Amount Due indicated at line 35 must be transmitted in one transaction with an
applicable year of 2012. The Prepayment of Tax liability included in this amount, along with the Prepayment of Tax liability due June
st
1
, will be credited automatically against the succeeding years’ tax liability, when the taxpayer files that years’ Insurance Premium
st
Tax Return. A separate transaction for the prepayment tax liability due March 1
line 34 is not required.
HELPFUL HINT FOR EFT REMITTANCE: Return Period Ending MUST read 131231 ((YY) Year, (MM) Month, (DD)
Day) for ALL payments associated with the 2012 tax return. This includes any PREPAYMENT of tax liabilities due with the return
st
st
on March 1
and on June 1
. The same procedure should be followed for subsequent tax years, after adjusting the return period
ending accordingly.
IMPORTANT NOTE
PAYMENT for the amount indicated at Schedule A, Line 35 of the Insurance Premium Tax Return MUST BE
SUBMITTED TO THE DIVISION OF TAXATION at the address indicated on the front page of this return. DO NOT send
payment of this Amount to the Department of Banking and Insurance.
However, if the taxpayer is simultaneously paying an Annual Statement Filing Fee, Renewal of Certificate of Authority Fee,
Maintenance Fee, Insurance Development Fund Surcharge, etc., these amounts must be submitted under separate cover to the address
indicated on the notice for the particular fee, surcharge, etc. and MUST NOT be included with the Insurance Premium Tax Return.
**ALL ATTACHMENTS MUST BE INCLUDED WITH BOTH THE ORIGINAL RETURN FILED WITH THE DIVISION OF
TAXATION AND THE DUPLICATE RETURN FILED SIMULTANEOUSLY WITH THE DEPARTMENT OF BANKING AND
INSURANCE.
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