Form M11l - Insurance Premium Tax Return For Life And Health Companies - 2016 Page 3
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52016 Insurance Premium Tax Return for Life and Health Companies
.
For insurance tax laws, see Minnesota Statutes, Chapter 297I at
Before You File
Due Date
When the due date falls on a weekend or
legal holiday, payments made electronically
File your Form M11L with all required at-
You Need a Minnesota Tax ID
or postmarked on the next business day are
tachments and pay any tax due by March 1.
Your Minnesota tax ID is the seven-digit
considered timely.
Payment extensions are not allowed.
number you’re assigned when you register
with the Department of Revenue. You must
If you’re not required to pay electronically
The U.S. postmark date, or date recorded or
include your Minnesota tax ID on your
and are paying by check, visit our website
marked by a designated delivery service, is
return so that your filing and any payments
at and click on
considered the filing date (private postage
you make are properly credited to your
“Make a Payment” and then “By check” to
meter marks are not valid). When the due
account.
create a voucher. Print and mail the voucher
date falls on a Saturday, Sunday or legal
holiday, returns and payments electroni-
with a check made payable to Minnesota
If you do not have a Minnesota tax ID, ap-
cally made or postmarked the next business
Revenue.
ply online at or
day are considered timely. When a return
call 651-282-5225 or 1-800-657-3605.
When you pay by check, your check autho-
or payment is late, the date it is received at
rizes us to make a one-time electronic fund
It is also important to enter your federal ID
the Department of Revenue is treated as the
transfer from your account, and you may
number and NAIC number on your return,
date filed or paid.
not receive your cancelled check.
but not in place of your Minnesota tax ID
Extension for Filing Return. If good cause
number.
If you make your payments electronically,
exists, you may request a filing extension.
do not send in the vouchers.
Filing Requirements
Payments
If you do not pay the correct amount of
All life and health insurance companies
estimated tax by the due dates and your tax
Electronic Payments
licensed in Minnesota during the tax year
liability is more than $500, you may have
must file a premium tax return even if they
If your total insurance taxes and surcharges
to pay an additional charge for underpay-
have not transacted insurance business in
due for the last 12-month period ending
ing. Complete the worksheet on page 3.
June 30 is $10,000 or more, you are required
Minnesota during the tax year. Unlicensed
Overpayments from prior years or prior
Insurance companies collecting premiums
to pay your tax electronically in all subse-
estimated overpayments should be applied
quent years.
on Minnesota risks must also file a premium
before underpayment charges are figured.
tax return. Insurers with a premium tax
You must also pay electronically if you’re
liability of more than $500 must also make
Return Payment
required to pay any Minnesota business tax
estimated tax payments.
If there is an amount due on Form M11L,
electronically, such as withholding tax.
(M.S. 297I.05, subd. 14)
either pay it electronically or by check.
To pay electronically, go to the depart-
Insurance companies are exempt from
If you’re not required to pay electronically
ment’s website at
Minnesota corporation franchise tax. (M.S.
and are paying by check, visit our website
and log in to e-Services. If you don’t have
290.05, subd. 1c)
at and click on
Internet access, call 1-800-570-3329 to
“Make a Payment” and then “By check” to
pay by phone. You’ll need your user name,
Annual Financial Statements. Insurance
password and bank routing and account
create a voucher. Print and mail the voucher
companies that do not file statements with
numbers. When paying electronically, you
with a check made payable to Minnesota
the NAIC are required to file a copy of their
must use an account not associated with any
Revenue.
statement with the Department of Revenue
foreign banks.
(9” x 14” version). If any premiums or
When you pay by check, your check autho-
deductions reported on Form M11L cannot
If you use other electronic payment
rizes us to make a one-time electronic fund
be verified from the annual statement, you
methods, such as ACH credit method or
transfer from your account, and you may
must attach documentation to your tax
Fed Wire, instructions are available on our
not receive your cancelled check.
return substantiating the amounts.
website or by calling Business Registration
Note: If no amount is due or if you pay elec-
Office at 651-282-5225 or 1-800-657-3605.
File Electronically
tronically, do not send in a voucher.
Options are available to electronically
Estimated Tax Payments
prepare and file your premium tax return.
Completing Form M11L
If your total annual tax liability is more than
Electronic filing is a secure, fast and easy
$500, you must make estimated payments.
Check Boxes
way to file. For more information, visit our
To avoid an additional charge for underpay-
website at .
At the top of the form, check if the return is:
ing the tax, your payments must be made on
time and be at least one-fourth of the prior
• an Amended Return: Check only if you
Which Form to File
year’s total annual tax liability, or one-fourth
are amending a previously filed return
of 80 percent of the current year’s total an-
Life and health insurance companies use
for the same period. Include all original
nual tax liability.
Form M11L to file premium taxes.
and corrected premiums on the amended
Estimated payments are due quarterly on
return.
Property, casualty and title insurance com-
1
March 15, June 15, Sept. 15 and Dec. 15.
panies use Form M11 to file premium taxes.
Continued
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