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Insurance Premium Tax (Surplus Lines/Purchasing Groups)
Who is responsible for this tax?
A Texas-licensed surplus lines agent who places a policy with a surplus lines insurer must report and pay this tax when Texas is the home state of the insured.
Rates
4.85 percent of taxable premiums
Due Date
- Yearly: March 1 for the previous calendar year (for example, March 1, 2015, for premiums received in 2014).
- Prepayments are due by the 15th of the month in which the agent accrues $70,000 or more.
Penalties and Interest
Penalties
- If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed.
- If tax is paid over 30 days after the due date, a 10 percent penalty is assessed.
Interest
- Past due taxes are charged interest beginning 61 days after the due date.
- To calculate interest on past due taxes, visit Interest Owed and Earned.
Reporting and Payment Requirements
Select the amount of taxes you paid in the preceding state fiscal year (Sept. 1 – Aug. 31) to find the reporting and payment methods to use.
Less than $10,000
Select one of these reporting methods:
Select one of these payment methods:
$10,000 - $49,999
Select one of these reporting methods:
Select one of these payment methods:
$50,000 - $499,999
Webfile is the only acceptable reporting method.
Select one of these payment methods:
$500,000 or more
Webfile is the only acceptable reporting method.
TEXNET is the only acceptable payment method.