Get the free Connecticut Insurance Premiums Tax

Department of Revenue Services State of Connecticut PO Box 2990 Hartford CT 061042990Form 207F207F 1217W 01 9999(Rev. 12/17)2017Connecticut Insurance Premiums Tax Return Nonresident and Foreign CompaniesComplete

How to fill out connecticut insurance premiums tax

How to fill out connecticut insurance premiums tax

1. To fill out Connecticut insurance premiums tax, follow these steps:
2. Obtain the necessary forms: You will need Form OP-336, Insurance Premiums Tax Return, and Schedule A, which is used to report surplus lines premiums.
3. Gather the required information: Gather all the necessary information such as your business's gross premiums earned, deductions, net premiums earned, and any surplus lines premiums.
4. Complete Form OP-336: Fill out Form OP-336 by providing accurate information about your business, including your business name, address, federal employer identification number (FEIN), and accounting period.
5. Calculate tax liability: Calculate your tax liability by applying the applicable tax rate to your net premiums earned. The current tax rate for insurance premiums tax in Connecticut is 1.75%.
6. Report surplus lines premiums: If applicable, complete Schedule A to report any surplus lines premiums your business has collected.
7. File and pay: Once you have completed the forms and calculated your tax liability, file the completed forms along with payment to the Connecticut Department of Revenue Services. Make sure to submit the forms and payment by the due date, which is generally March 1st.

Who needs connecticut insurance premiums tax?

1. Any individual or business entity that engages in the business of insurance and collects premiums in the state of Connecticut needs to pay Connecticut insurance premiums tax.
2. This includes insurance companies, reinsurers, surplus lines brokers, and any other entities that sell insurance or collect premiums in Connecticut.

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What is connecticut insurance premiums tax?

Connecticut insurance premiums tax is a tax imposed on insurance companies for doing business in the state of Connecticut.

Who is required to file connecticut insurance premiums tax?

Insurance companies operating in Connecticut are required to file connecticut insurance premiums tax.

How to fill out connecticut insurance premiums tax?

Connecticut insurance premiums tax can be filled out online through the Connecticut Department of Revenue Services website or by submitting paper form CT-217.

What is the purpose of connecticut insurance premiums tax?

The purpose of connecticut insurance premiums tax is to generate revenue for the state government and regulate the insurance industry.

What information must be reported on connecticut insurance premiums tax?

Insurance companies must report their premiums earned in Connecticut and calculate the tax due based on those premiums.