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4. Is it permissible for insurance companies to charge their clients for the tax on premiums?

Wed, 16 Jan 2013 15:17:27 EST

Yes. 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.

Rev. 1/16/13

3. Do I have to file an annual/reconciliation return even if there is no tax due?

Fri, 28 Feb 2014 14:58:04 EST

Every 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.

Rev. 2/28/14

2. When are insurance premiums, nonadmitted premiums and fire investigation and prevention tax payments and returns due?

Wed, 16 Jan 2013 15:15:20 EST

Generally, 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.

Rev. 1/16/13

1. Who should I contact if I have a question relating to insurance premiums, nonadmitted premiums, and fire investigation and prevention taxes: the Bureau of Insurance or Maine Revenue Services?

Wed, 16 Jan 2013 15:14:46 EST

Contact the Bureau of Insurance (207-624-8475) if you have a question regarding licensing or examination.

Contact Maine Revenue Services (207-624-9753) if you have a question regarding state taxes.

Rev. 1/16/13