Enlarge image | 25-103 b. PRINT FORM RESET FORM (Rev.12-18/29) AB CD a. T Code 71140 c. Taxpayer number d. Filing period e. f. Due date You have certain rights under Chapters 552 and 559, Government Code, to review, request and correct information we have on file about you. SELECT FILING PERIODb Contact us at the address or phone number listed on this form. (Independently Procured Insurance)Taxpayer name and tax report mailing address Type or print.(Make necessary name and address changes below.) g. h. IMPORTANT Blacken this box if your mailing address Texas Annual Insurance Tax Report has changed. Show changes beside the 1 preprinted information. b I For Comptroller use only i.PM j.FM k.NO Sch 1 b b*2510300W121829* The Non-Admitted and Reinsurance Reform Act (NRRA) passed as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. Texas laws that relate to independently procured insurance were revised to comply with the provisions of the NRRA that became effective on July 21, 2011. The federal law defines independently procured insurance as insurance procured directly by an Rb insured from a nonadmitted insurer and provides that the home state of the insured controls for purposes of regulation and taxation. The law also encourages the states to join a tax compact or agreement that would allow for the sharing of taxes due on policies that cover Important Information Regarding Independently Procured Insurancerisks in multiple states. Texas has not joined any compact or agreement at this time; however, if Texas joins a compact in the future, b bb additional information will be provided. Who Must File: An insured whose home state is Texas and who procures insurance directly from a nonadmitted insurer, without an agent's involvement , is liable for the independently procured tax on the policy. Insureds whose policies were obtained through surplus lines agents/agencies, and who are no longer subject to this tax, should contact the Comptroller's office at 1-800-252-1387 to discuss whether their account can be closed. Refer to Publication 98-376, "Tax on Independently Procured Insurance," at www.comptroller.texas.gov/taxes/publications/98-376.pdf and to the instructions on the reverse side of this form for additional information. 1. Total premiums allocated to Texas (net of return premiums) from all supplements (Form 25-122) 1. .00 Your report cannot be processed without the supplement (Form 25-122). Premium Tax Calculation 2. Premium tax rate I 2. .0485 ("Premium" includes any premiums, membership fees, dues or other consideration for insurance.) (Whole dollars only) 3. Total tax due 3. b Form 25-103 (Rev.12-18/29) b (Multiply Item 1 by Item 2) 4. Penalty and interest due 4. . b * * * Return this entire form.* * * 5. TOTAL AMOUNT DUE AND PAYABLE 5. Taxpayer name l. m. (See instructions.) T Code Taxpayer number Period I declare that the information in this document and all attachments is true and..correct (Item 3 plus Item 4)to the best of my knowledge and belief. 71020 Authorized agent Preparer's name (Type or print.) b Make the amount in Item 5 Mail to Comptroller of Public Accounts payable to P.O. Box 149356 Daytime phone Date State Comptroller Austin, TX 78714-9356 (Area code & number) For information about Insurance Tax, call 1-800-252-1387. 111b A b b bDetails are also available online at www.comptroller.texas.gov. AB |
Enlarge image | Form 25-103 (Back)(Rev.12-18/29) When to File The report and payment are due once a year, on or before May 15, following the calendar year in which the insurance was procured, continued or renewed. General Instructions If any preprintedInstructionsinformation is not correct, mark out(Independentlythe item and write in the correct information. forProcuredCompletingInsurance)the Texas Annual Insurance Tax Report Complete the Texas Annual Insurance Tax Report - Supplement (Form 25-122). Item c. Taxpayer Number: If the insured files a report for other taxes administered by this agency, please enter that 11-digit number in this box. If a taxpayer number has not been established for the insured by this agency and the insured is an individual, enter the insured's Social Security number in Item c. Other entities should enter the Federal Employer Identification Number (FEIN) assigned to their organization. FEDERAL PRIVACY ACT. Disclosure of your Social Security number is required and authorized under law for the purpose of tax administration and identification of any individual affected by applicable law [42 U.S.C., Section 405(c)(2)(C)(i); Texas Government Code, sections 403.011, 403.015, and 403.078]. Release of information on this form in response to a public information request will be governed by the Public Information IIIAct, Chapter 552, Government Code. Exemptions and Preemptions See Publication 94-142, "Surplus Lines Tax Exemptions/Preemptions," at www.comptroller.texas.gov/taxes/publications/94-142.pdf. Exempt premiums are premiums for an independently procured insurance policy that covers risks or exposures that are properly allocated to federal waters, international waters or risks or exposures that are under the jurisdiction of a foreign government. This tax does not apply to an individual life or individual disability policy. Federal preemptions to state taxation for independently procured insurance include premiums for policies that are issued to the following entities: the Federal Deposit Insurance Corporation (FDIC), when it acts as the receiver of a failed financial institution that holds the property being insured; the National Credit Union Administration; Electronic reporting and payment options a federally chartered credit union; and are available 24 hours a day, 7 days a week. Indian Tribal Nations Have this form available when you log on. The home state is defined by the NRRA as: (A) IN GENERAL. - Except as provided in subparagraph (B), the term "home state" means, with respect to an insured (i) the state in which an insured maintains its principal place of business or, in the case of an individual, the individual's principal residence; or IIII(ii) if 100% of the insured risk is located out of the state referred to in clause (i), the state to which the greatest percentage of the insured's taxable premium for that insurance contract is allocated. www.comptroller.texas.gov/taxes/file-pay/ (B) AFFILIATED GROUPS. - If more than one insured from an affiliated group are named insureds on a single nonadmitted insurance contract, the term "home state" means the home state, as determined pursuant to subparagraph (A), of the member of the affiliated group that has the largest percentage of premium attributed to it under such insurance contract. Specific Instructions Item 1 - Determining Texas Premiums: For new or renewal policies procured directly from a nonadmitted insurer that were effective on or after July 21, 2011, when Texas is the home state of the insured: 100% of the tax is due Texas on a policy that covers risks in Texas only. 100% of the tax is due Texas on a policy that covers risks in more than one state. If Texas is the home state of the insured but the policy covers risks that are 100% located outside of Texas, then the state to which the greatest percentage of the premium is allocated becomes the home state. The policy would then be subject to regulation and taxation by III that home state and not by the state of Texas. Endorsements and audits on independently procured policies are subject to the laws that apply to the original policy; however, they should be reported for the tax year in which the endorsement or audit occurs. Using the original policy's effective date may result in the application of penalty and/or interest for late filing. The tax for endorsements and audits that generate return premiums due a policyholder must be calculated using the same tax rate that was originally charged. Item 4 - Penalty and Interest: If tax is paid 1-30 days late, enter 5% of the amount in Item 3. If tax is paid 31-60 days late, enter 10% of the amount in Item 3. If tax is paid more than 60 days late, enter 10% penalty PLUS interest on the amount in Item 3. Calculate interest at the rate published online at www.comptroller.texas.gov/taxes/file-pay/interest.php or call the Comptroller's office at 1-877-447-2834 for the applicable interest rate. Item 5 - Total Amount Due and Payable: The total amount due and payable can be paid by the insured or by another party designated by the insured. |
Enlarge image | AB CD 25-122 PRINT FORM RESET FORM (Rev.12-15/6) b. *2512200W121506* b Texas Annual Insurance Tax Report - Supplement d. Filing period e. (Independently Procured Insurance) b 71240 a. T Code b c. Taxpayer number Taxpayer name b Type or print. This supplement cannot be processed without the report (Form 25-103). I 1. Policy number 2. Name of insurer b b 3. Gross premium charged (Whole dollars only) 4. Premium allocated to Texas (Whole dollars only) 5. Effective date of policy $ .00 $ .00 b b b 6. Type of insurance b 1. Policy number 2. Name of insurer b b 3. Gross premium charged (Whole dollars only) 4. Premium allocated to Texas (Whole dollars only) 5. Effective date of policy $ .00 $ .00 b b b 6. Type of insurance b 1. Policy number 2. Name of insurer b b 3. Gross premium charged (Whole dollars only) 4. Premium allocated to Texas (Whole dollars only) 5. Effective date of policy $ .00 $ .00 b b b 6. Type of insurance b 1. Policy number 2. Name of insurer b b 3. Gross premium charged (Whole dollars only) 4. Premium allocated to Texas (Whole dollars only) 5. Effective date of policy $ .00 $ .00 b b b 6. Type of insurance b 1. Policy number 2. Name of insurer b b 3. Gross premium charged (Whole dollars only) 4. Premium allocated to Texas (Whole dollars only) 5. Effective date of policy $ .00 $ .00 b b b 6. Type of insurance b 1. Policy number 2. Name of insurer b b 3. Gross premium charged (Whole dollars only) 4. Premium allocated to Texas (Whole dollars only) 5. Effective date of policy $ .00 $ .00 b b b 6. Type of insurance b You have certain rights under Chapters 552 and 559, Government Code, Total premiums allocated to Texas to review, request and correct information we have on file about you. Contact for this page only. $ .00 us at the address or phone number listed on the report. (Forward to Form 25-103, Item 1) |
Enlarge image | Form 25-122 (Back)(Rev.12-15/6) Instructions for Completing the Texas Annual Insurance Tax Report - Supplement (Independently Procured Insurance) GENERAL INSTRUCTIONS: I To report more than six policies, please use additional supplement forms. I TYPE or PRINT. I Do not write in shaded areas. I Forward the taxable Texas premium totals for all supplement forms to Form 25-103, Item 1. SPECIFIC INSTRUCTIONS: Item 1 - Policy number. Enter the unique identification number assigned to a policy, contract, binder or other evidence of coverage. Item 2 - Name of Insurer. Enter the exact name of the insurance company that is providing coverage as it appears on the policy, contract, binder or other evidence of coverage. Item 3 - Gross Premium Charged. Enter the total amount of premium charged by the insurer for the coverage provided under the policy, regardless of the location of the risks being insured under the policy. Item 4 - Premium allocated to Texas. I Enter the amount of premium from Item 3, where Texas is the home state of the insured. Item 5 - Effective Date of Policy. Enter the date on which the insurance was procured, continued or renewed. Endorsements and audits on independently procured insurance policies must be reported for the tax year based on the date in which the endorsement or audit occurs. Item 6 - Type of Insurance. Enter the specific type of insurance provided under the policy. |