Navigate Up
Sign In
Last Updated: 2/8/2016

Insurance Premium Tax Information

The Insurance Premium Tax applies to gross premiums sold by licensed insurance companies in Minnesota. The tax rate varies depending on the type of company and the type of premiums.

Who Must File

All risk retention groups and property and casualty, title, surety, life, and township mutual insurance companies must report the Insurance Premium Tax.

Tax Rates

The tax rate for the Insurance Premium Tax depends on the type of insurer and policy, as outlined below:

  • For township mutual insurance companies, the rate is 1 percent.
  • For life insurers, the rate is 2 percent on accident and health premiums, and 1.5 percent on life insurance premiums.
  • For mutual property and casualty insurance companies, the rate is:
    • 1.26 percent if they have more than $5 million in assets this year and had less than $1.6 billion in assets on Dec. 31, 1989; or
    • 1 percent if they have less than $5 million in assets this year.
  • For all others, the rate is 2 percent.

Due Dates

You must report Insurance Premium Tax by March 1 for the prior calendar year. If you owed more than $500 for the last tax year, you must make quarterly estimated payments on March 15, June 15, Sept. 15 and Dec. 15.

Each estimated payment must equal at least 25 percent of the prior year’s tax liability, or 20 percent of the current year’s tax liability.

Filing and Payment

Form M11T, Insurance Premium Tax and Firetown Report for Township Mutual Companies can only be filed by paper, but can be paid electronically through our e-Services system.  All other Premium Tax returns  may be filed either electronically using TriTech Software or on paper.

To file your return, use the appropriate form(s) as listed below:

To pay by check, use our e-Services Payment Voucher System to create and print the payment voucher you need to mail with your check or money order payments.