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  • Minnesota Form Ig260 (nonadmitted Insurance Premium ...

Get Minnesota Form Ig260 (nonadmitted Insurance Premium ...

Eb. 15, 2025) Check if: Name of Surplus Lines Broker Agency Name Print or Type Amended Return License Number Check if New Address Mailing Address No Activity Return Date Licensed Minnesota Tax ID Number Required (see instructions) Social Security Number (last 4 digits) City State Zip Code Email Address Website Address Contact Person Daytime Phone Fax Number 1 Total premiums (from page 2, column G) . . . . . . . . . . . . . . . . . . . . .

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The disadvantages of surplus lines insurance are that they typically cost more, are subject to state taxes, and aren't covered by state guaranty associations.

Stamping fee: . 04%, payable to the Minnesota Surplus Lines Association.

Surplus lines tax is a type of tax that is imposed on insurance policies that are not covered by the state's admitted insurance market. This means that the insurance policy is not regulated by the state's insurance department and is instead placed with a non-admitted insurance company.

An excess line broker must pay a tax of 3.6% on the gross premium minus premiums returned to insureds when New York is the Home State of the insured (§2118(d)(1)). It is the legal obligation of the excess line broker to file tax returns and pay taxes.

The tax rate for the Nonadmitted Insurance Premium Tax for Surplus Lines Brokers is 3 percent of gross premiums (including fees and commissions, but less return premiums written through a surplus lines insurer).

Surplus line insurance is coverage for higher risks, such as a: Home built on the side of steep bank or an extremely old home. Very expensive racehorse. Rare art or antique collection.

Fundamentally, surplus lines premium taxes are taxes a surplus lines carrier or broker has to pay to a state where they sold a surplus lines policy. The longer explanation: Carriers pay taxes to their domicile state based on the amount of premium they write each year.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232