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Premium Tax

Indiana premium tax is based on a percent of gross premiums received on policies covering risks during the preceding calendar year less reinsurance, returned premiums and cancellations, dividends paid or credited to insureds, and unearned premiums. ;

Statute reference: IC 27-1-18-2

Tax History
Year
Percent
2000
2.0
2001
1.9
2002
1.8
2003
1.7
2004
1.5
2005 & after
1.3

Payment
Quarterly installments due by April 15, June 15, September 15, and December 15 of the current calendar year. Payments of the tax shall be made on a quarterly estimated basis. The amounts of the quarterly installments shall be computed on the basis of the total estimated tax liability for the current calendar year. Any balance due the Insurance Department is payable at the time for the filing of the next annual report with the department in the succeeding calendar year. Any overpayment will be allowed as a credit against the tax due for the first installment of the next calendar year.

Related Files

The material in this document has been prepared and shared for informational purposes only and should not be relied upon as legal advice on any particular situation.