Insurance Premium

General Information

  • Privilege tax imposed on all companies licensed by the Mississippi Department of Insurance who receive premiums from policies covering risks located in this state.
  • Tax rate is 3% on all premiums received
  • An additional 1% tax on premiums covering the risk of fire, plus an additional tax on premiums covering the risk of fire in Jackson
  • Premiums received from annuity contracts are exempt unless taxed in the company’s state of domicile
  • All annual statement filings and insurance company license renewals are made to the Mississippi Department of Insurance

Credits

  • Income tax paid to the State of Mississippi
  • Investments made in Mississippi
  • Class B assessments paid to the Mississippi Life and Health Insurance Guaranty Association
  • New policies written or covering risks for essential property insurance in the coast area
  • Determination of Coast Area Credit

Registration

Register online for Insurance Premium Tax Accounts through TAP.

Go to TAP and follow instructions for registration.

Filing Tax Returns

Insurance Premium Taxpayers file and pay electronically through TAP.

Notices

Return Filing Notice  |  January 5, 2012

Estimated Payment Notice​  |  October 6, 2014

Due Dates

​First Quarter ​January 1 - March 31 ​1/4 payment due April 20th
​Second Quarter ​April 1 - May 31 ​1/6 payment due June 20th
​Third Quarter  ​June 1 - June 30 ​1/12 payment due July 20th
​Fourth Quarter  ​July 1 - September 30 ​1/4 payment due October 20th
​Final Period  ​October 1 - December 31 ​​Balance of tax due March 1st **

** A return with the actual premiums for each quarter will be filed annually with the final period payment due by March 1.

Laws and Regulations

Mississippi Tax Law

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