A Risk Retention Group that does not have a Certificate of Authority issued by this state is liable for payment of a 2% premium tax on direct business for a risk resident to be submitted quarterly on form FIS 0260 Report of Risk Retention Group Premium and Tax. Premium taxes are paid quarterly within 30 days of the end of the quarter. No declaration sheets are required to be submitted with the FIS 0260 except for credits taken.
The Office of Financial and Insurance Services does not issue a refund on any premium taxes previously paid. The Risk Retention Group can take a credit toward the appropriate quarter with submission of proper documentation of any cancellations and returned premiums.
Printer Friendly
Text Version
Twitter
Facebook
Yahoo
Google
Digg
reddit
Newsvine
StumbleUpon
Bookmark
Email Page
