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
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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
Due Dates
- January through March, return and payment due April 20th
- April through May, return and payment due June 20th
- June return and payment due July 20th
- July through September return and payment due October 20th
- October through December and Annual Reconciliation return and payment due March 1st
