The annual independently procured insurance tax report for 2019 is due May 15, 2020. To help ease the burden for taxpayers struggling during this time, the Texas Comptroller of Public Accounts will grant, upon request, a 60-day extension to July 15 to file and pay this tax. Taxpayers who have been granted the 60-day extension and need more time to file and pay this tax can apply for an additional 30-day extension on or before July 15.
Taxpayers requesting an extension must email on or before May 15, 2020, the following information to firstname.lastname@example.org.
Any filings and payments made after the last day of the extension will be subject to penalties.
An insured whose home state is Texas must pay the independently procured insurance premium tax when procuring a policy directly from a nonadmitted insurer. Tax is due in Texas based on the entire premium charged for the policy, even if there is premium allocable to risk located in other states. If there is no risk in Texas, however, then the state with the highest premium allocation becomes the home state and no tax is due in Texas.
If an agent or broker is involved in the placement of an insurance policy, then the policy is surplus lines insurance, and it is subject to regulation and taxation by the home state of the insured.
4.85 percent of taxable premiums
Yearly: May 15 for the previous calendar year (for example, May 15, 2015, for policies written in 2014).
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.
In 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Google Chrome, Microsoft Internet Explorer and Apple Safari.