Maine Revenue Services Issues Information on Non-Admitted Premiums Tax on Surplus Lines Insurers

Maine Revenue Services Jan. 1 issued information on non-admitted (surplus) premiums tax, for excise tax purposes. The information includes: 1) entities having non-admitted gross direct insurance premiums (surplus lines insurer) and doing business or collecting premiums, whether in cash or otherwise, must pay a surplus lines premiums tax on the premiums written on risks located or resident in the state; 2) for tax years beginning before Jan. 1, the tax rate is 3 percent of the premiums written on risks located or resident in the state; and 3) for tax years beginning on or after Jan. 1, the tax rate ...