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INSURANCE PREMIUM TAX

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 and Online Filing

Taxpayers can use the Mississippi Department of Revenue's Taxpayer Access Point (TAP) to submit encrypted registrations, file encrypted reports, and make secure encrypted electronic payments for Insurance Premium taxes.

To register for TAP access, navigate to the TAP login page and click on the "Sign Up" button located on the top navigation bar.

Insurance Premium Taxpayers file and pay electronically through TAP.

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 **

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

Notices

Insurance Premium Notices

Laws and Regulations

The following tax laws administered by the Mississippi Department of Revenue may be found at Mississippi Code at Lexis Publishing.

  • Insurance Taxes - Mississippi Code Annotated, Title 27, Chapter 15 (27-15-81)