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Insurance Premium Tax (Unauthorized Insurance)
Who is responsible for this tax?
An insurance company that transacts insurance business in Texas without being licensed by the Texas Department of Insurance must pay this tax. If not paid by the due date, the tax is a liability of the insurer, the agent and 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).
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.