Quarterly Report of Surplus Lines Business Nebraska Form
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People also ask
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What is surplus line tax?
A: Every surplus line broker must make an annual state tax filing. The amount of state tax is 3% of the California taxable surplus line premium transacted by the broker, for California home state insureds, from January 1st to December 31st of the previous year. -
What are surplus lines taxes for?
A: Every surplus line broker must make an annual state tax filing. The amount of state tax is 3% of the California taxable surplus line premium transacted by the broker, for California home state insureds, from January 1st to December 31st of the previous year. -
How often must surplus lines brokers submit taxes and reports?
Every surplus line broker and special lines surplus line broker must make an annual state tax filing. This filing is due to the Insurance Commissioner on or before March 1st of each year. -
What is the Texas surplus lines tax?
Surplus lines tax: 4.85% (+ stamping fee of . 075% (. 00075)) (reduced from . 15% effective January 1, 2021), payable by broker (TX DOI imposes assessments/enforcement actions for late filings). -
How do you explain surplus lines?
Surplus lines insurance is a special type of insurance that covers unique risks. It fills a gap in the standard market by covering things that most companies can't or won't insure. -
Why would a customer purchase surplus lines insurance?
Surplus lines insurance protects against a financial risk that a regular insurance company will not take on. Surplus lines insurance policies are available in a variety of types for both individuals and businesses. Surplus lines insurance is generally more expensive than regular insurance because the risks are higher.
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