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Last Updated: 10/26/2017

Frequently Asked Questions

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HMO Premium Tax

651-556-3024
8:00 a.m.- 4:30 p.m. Mon.- Fri.

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HMO Premium Tax > Resources

  • Do I need to file a return for this tax if I didn't write any business?Back to top

    Yes. As long as you are licensed you are required to file a return. Check the "No Activity" box at the top of the form if you have no business to report.​

  • If I update my business information with the Department of Commerce, do I also need to notify the Department of Revenue?Back to top

    Yes.

  • Do I need to pay electronically?Back to top

    Yes, if you meet either of these requirements:

    • Your total insurance taxes and surcharges equal $10,000 or more for the prior fiscal year ending June 30.
    • You're required to pay any other Minnesota tax electronically.​

  • How do I calculate penalties or interest on a late or amended return?Back to top

    Calculate penalties and interest as follows (see example below):

    • Late filing penalty = 5 percent of unpaid tax
    • Late payment penalty = 5 percent of unpaid tax (if 1 to 30 days late); 10 percent (if 31 to 60 days late); or 15 percent (if over 60 days late)
    • Interest = (tax + penalty) × interest rate × # days late ÷ 365
    Example: You file your return 37 days late and owe $1,000 in tax.

    Calculate your penalties as follows:

    • Late filing penalty = $1,000 × 0.05 = $50
    • Late payment penalty = $1,000 × 0.10 = $100

    Calculate your interest as follows (assuming the interest rate is 3 percent):
    • Interest = ($1,000 + 50 + 100) × 0.03 × 37 ÷ 365 = $3.50
    Note: For the current interest rate, see Penalty and Interest Rates.

  • Do I need to file an amended return if the Department of Revenue already fixed my return?Back to top

    Not if you agree with the changes we made. But if you disagree, you may file an amended return with the proper figures; we'll review it and update your account accordingly.​

  • Can I get more time for my audit?Back to top

    Yes. Contact the auditor assigned to your case to request the additional time. They may ask for the request in writing.​

  • Will I know I am being audited?Back to top

    Yes. An auditor will contact you to set an appointment. The audit will include a review of the records at your place of business.

  • Can someone else handle my audit on my behalf?Back to top

    Yes. You may assign a power of attorney (POA) to another person or firm so they can represent you. To do so, complete Form REV184, Power of Attorney, and send it to the auditor assigned to your case before your POA contacts the auditor.​

  • Are there penalties if my return is late?Back to top

    Yes. The penalty for late filing is 5 percent of the unpaid tax.​

  • Do I need to file a return for this tax?Back to top

    Yes, if you are licensed with the Department of Commerce. You must file even if you have no business to report for the period.​

  • What is the penalty for late payment?Back to top

    The penalty is 5 percent if your payment is 1 to 30 days late, 10 percent if your payment is 31 to 60 days late, and 15 percent if your payment is over 60 days late.

  • Where can I find my Minnesota tax ID number?Back to top

    It should appear on any letter that was sent to you by the Department of Revenue. If you can't find it, please call us at 651-556-3024. You'll need to provide an alternate identification number, such as an NAIC number or FEIN.

  • How do I update my contact information?Back to top

    You can do it through our e-Services system. Or, you can mail your updated information to:

    Minnesota Revenue
    Mail Station 1780
    St. Paul, MN 55146-1780

  • Can I send more information to update my account?Back to top

    Yes. If the information is in regard to an audit, send the information to the auditor assigned to the case. Information can be sent to: Minnesota Revenue, Mail Station 1780, St. Paul, MN 55146-1780.​

  • Why am I being ordered to file and pay this tax if I am not licensed?Back to top

    It's possible your registration is wrong, or that you have changed your license with the Department of Commerce and we haven't been notified. Please call the Insurance Taxes Unit at 651-556-3024 so we can update or close your account if needed.

  • What if I don't understand what was changed on my return?Back to top

    Call the Insurance Taxes Unit at 651-556-3024 and we'll review your account with you.​

  • What if I made a payment but it doesn't show up on my account?Back to top

    Call the Insurance Taxes Unit at 651-556-3024 and provide as many details as possible about your payment – date, amount, method (electronic or check), Minnesota tax ID number, etc. If your payment was applied, we can correct it.

  • What if I didn't make estimates or pay my estimated tax by the due dates?Back to top

    When you file your annual return, you'll have to pay an additional tax charge (ATC). The ATC is equivalent to interest on the estimated tax that you didn't pay by the due date. Calculate this charge as follows:

    ATC = tax x interest x # days late / 365
    Example: You owed $1,000 in estimated tax on June 15 but did not pay until June 30. If the interest rate is 3 percent, the ATC on your return is $1.23, as calculated below:
    ATC = $1,000 x 0.03 x 15 / 365 = $1.23
    Note: For the current interest rate, see Penalty and Interest Rates.