Wed, 16 Jan 2013 15:17:27 ESTYes. Maine's insurance premiums tax is a tax on the insurer in lieu of paying income taxes. Like any cost of doing business, the insurer may pass this cost on to its customers and may also separately state the amount of those taxes. However, the insurer may not make a representation that the premiums tax is imposed on the insured or that the insured is in any way legally responsible to the State of Maine for the tax liability.
Fri, 28 Feb 2014 14:58:04 ESTEvery insurer that does business in Maine or collects premiums or assessments in Maine must file an annual premiums tax return, even if there is no tax obligation for the year.
Wed, 16 Jan 2013 15:15:20 ESTGenerally, insurance premiums and nonadmitted premiums taxes must be paid quarterly, on a calendar year basis, with an annual reconciliation return due March 15 of the following year.
Wed, 16 Jan 2013 15:14:46 ESTContact the Bureau of Insurance (207-624-8475) if you have a question regarding licensing or examination.