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Insurance Taxes

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The Minnesota Department of Revenue administers seven insurance taxes and surcharges.

We verify that taxes and surcharges are correctly paid and filed on premiums written by insurance companies and surplus lines licensees.

We are also responsible for calculating distributions to fire and police relief associations.

The department is proposing changes to Form IG255, Nonadmitted Insurance Premium Tax Return for Direct Procured Insurance. The proposed updates on this draft form define more clearly what "nonadmitted insurance" means and further clarify the types of direct procured insurance policies that must be reported to the department for insurance premium tax.

In addition to surplus lines policies purchased directly from nonadmitted insurance companies (purchased without the assistance of a surplus lines broker), premiums paid to a captive insurance company must also be reported on Form IG255.

Please submit any questions or comments regarding the proposed updates to insurance.taxes@state.mn.us by September 30, 2020.

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