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AN ACT to conform provisions of north carolina surplus lines insurance laws to the federal nonadmitted and reinsurance reform act of 2010, to streamline applications for commercial purchasers, to
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How to fill out surplus linespremium tax

01
Obtain the necessary surplus lines premium tax forms from the appropriate regulatory authority.
02
Gather all the relevant information about the surplus lines insurance policies for which you need to fill out the tax.
03
Enter the policy details, including the policyholder's information, coverage details, and premium amounts, in the designated sections of the tax form.
04
Calculate the total surplus lines premium amounts and apply the applicable tax rate to determine the tax liability.
05
Complete any additional sections or disclosures required by the regulatory authority.
06
Double-check all the filled-out information for accuracy and completeness.
07
Sign and date the tax form.
08
Submit the filled-out and signed tax form, along with any required supporting documents and payment if applicable, to the regulatory authority by the specified deadline.

Who needs surplus linespremium tax?

01
Insurance companies and agents who engage in surplus lines insurance transactions need to pay surplus lines premium tax.
02
Surplus lines premium tax is also required of policyholders who procure surplus lines insurance coverage.

What is SURPLUS LINES/PREMIUM TAX. Form?

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Surplus lines premium tax is a tax imposed on insurance premiums paid for surplus lines insurance, which is coverage provided by non-admitted insurers.
Insurance brokers or agents who place policies with surplus lines insurers on behalf of clients are required to file surplus lines premium tax.
To fill out surplus lines premium tax, refer to your state’s specific forms, provide information about the insured and policy details, enter the premium amount, and submit the completed form along with payment to the appropriate tax authority.
The purpose of surplus lines premium tax is to ensure that surplus lines insurers contribute to the state’s insurance guarantee fund and are subject to taxation similar to admitted insurers.
The information that must be reported includes the names of the insured and insurer, policy number, effective dates, premium amounts, and any endorsements or modifications made to the policy.
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