Please select your company type from the following list. If your money is deposited into a state bank or other financial institution, if you have ever watched a horse race, purchased an insurance policy or played a bingo game sponsored by a local charitable group, you have benefited from our work. Increase in pension contributions required by the kentucky retirement. Get smart about insurance is a public education program. The software is designed for life, health maintenance organizations, property. The attached document is a declaration of use, submitted by the commonwealth office. The software is designed for life, health maintenance organizations, property and casualty, risk retention and title insurers. Delaware kentucky mississippi north carolina west virginia. Premium pro premium tax is a insurance premium tax compliance software that enables you to process your annual and estimated premium tax returns for all states and u. For tax years beginning on or after january 1, 2018. What do i need to know about insurance premium taxes. Ky the kentucky department of insurance has issued bulletin 201801 which contains information regarding changes to procedures for adjudicating local government premium tax lgpt. Isos new service helps insurers in florida and kentucky. Department of insurance kentucky office of insurance.
The kentucky department of revenue does not offer technical assistance for these software products. Generate comprehensive premium tax information reports this service incorporates historical information on municipality boundaries and counties with the u. Premium tax payments, including countymunicipal and special fraud fund assessments can still be paid by check. You should contact the tax software s customer service department if you have issues using the software product you choose to use.
Insurance premiums tax and surcharge department of revenue. You are responsible for making sure your renewal policy reaches our office. At this time, dor accepts payments by credit card or electronic check. The tax cuts and jobs act increased the federal limitation threshold for cash contributions and kentucky adopted that provision.
Insurance premium taxes need to be adopted with a uniform rate, there is no. Kentucky department of insurance local government premium tax lgpt use of cot municipal and county boundary data document 91a. Get the latest revenue taxpayer updates directly in your inbox. Kentucky department of insurance consumer protection division municipal tax section p. This site uses secure socket layer ssl 128bit encryption to safeguard the security of your transactions. Kentucky insurance department has approved vendors with software that can help insurance companies comply with a new law on collecting premium taxes. Alabama, florida, georgia, illinois, kentucky, louisiana, new york, north carolina and. For most gifts by cash or check, the total amount of such contributions that can be deducted is now limited to 60% of your kentucky adjusted gross income, instead of 50%. We are dedicated to providing a regulatory environment that is flexible, reliable, responsive and costefficient, while maintaining the high standards for which we are known. If you need more information concerning local government premium taxes, you may visit the kentucky department of insurance website. Premium tax service merges the most comprehensive postal, parcel, and street databases with stateoftheart geographic information system gis technology to determine each policyholders correct location and premium tax. County government in kentucky i foreword this publication contains information relevant to the structure and administration of county government and special districts, along with information regarding the roles of county officials. The louisiana department of insurance also accepts online tax returns filed with software by thirdparty vendors such as tritech software s premium pro tax program.
If funds for payment of taxes and insurance were required at closing, khc is. Municipal processes tax returns for several different states. To report insurance premium tax where the coverage was purchased from an unauthorized, foreign or alien insurer. Local government premium taxes lgpt refund of premiumdividends personal. Effective january 1, 2018, the following deductions were eliminated and can no longer be used to reduce kentucky income premiums paid for health insurance. Premium pro allocator supports alabama, delaware, florida firefighter disctrics, florida police office districts, georgia, illinois, kentucky, louisiana, newyork fire districts, newyork mta surcharge, and south. Local government premium tax john hord insurance program manager.
Premium pro municipal tax premium pro municipal allows you to calculate taxes for thousands of towns and cities with ease for over 4,000 muncipalities. The tax is levied on premium receipts of insurance companies doing business in kentucky. The tax will not be effective unless the city sends the commissioner of insurance a copy of the ordinance and any amendments at least 100 days before the. The service also indicates whether an insured is in multiple tax zones. Insurance companies are required to file a return quarterly. The kentucky department of revenue is the taxing body in kentucky responsible. Calculate and file your surplus lines filings with inscipher. Premium pro allocator provides an accurate method of allocating premiums to the correct tax jurisdiction. Make a payment ky green universal funding application program. Premium pro municipal allows you to calculate taxes for thousands of towns and cities. Census boundary data and premium tax information from the state department of insurance to generate accurate policyholder premium. Bulletin 2020 03 20202021 kentucky local government premium tax updates to. Insurance premium tax news summary senate bill 2024, as passed by the mississippi legislature, requires taxpayers to pay quarterly estimated payments and removes the requirement to file quarterly returns effective january 1, 2014.
How to file a kentucky state tax return credit karma. Paul place, suite 2700 baltimore, md 21202 on march 15 of each year, entities subject to taxation are required to file with the administration an annual premium tax statement for the preceding calendar year. Iso has unveiled a service that helps insurers writing homeowners and commercial policies in florida and kentucky determine policyholders correct tax jurisdictions and pay appropriate local premium taxes. Taxes, insurance, and other info kentucky housing corporation. Department of employee insurance kentucky employees. The forms are scannable forms for processing purposes. Insurance companies and surplus lines brokers are responsible for paying. There are no local sales and use taxes in kentucky. Premium pro insurance premium tax software process your annual and. Admitted premium tax louisiana department of insurance. The internal revenue service has issued retroactive extensions of several tax matters that include the following. Checks should be mailed to the same lockbox as regular quarterly prepayments.
Agent, rental vehicle agent, adjuster, administrator tpa, consultant, reinsurance intermediary broker, reinsurance intermediary manager, managing general agent, life settlement broker, life settlement provider, pharmacy benefit manager, portable electronics insurance retailer, and surplus lines broker. Estimated individual income tax may now be paid electronically. In 2019 kentucky tax changes, the department of revenues office of tax policy and regulation has compiled and documented these changes for kentucky taxpayers. Kentucky law permits local governments to impose taxes on premiums. Failure to use the original forms delays processing, could lead to transposition errors and may cause your return to be considered late. The kentucky department of revenue conducts work under the authority of the finance and administration cabinet. Moneys deposited to the law enforcement foundation program fund trust and. Within each company type will be the appropriate forms, a premium tax filing faq with information regarding the filing process, and the annual filing. Local government premium tax kentucky department of insurance. Kentucky sales and use tax is imposed at the rate of 6 percent of gross receipts or purchase price. The tax is assessed on premiums collected by insurance companies on policies written in kentucky during the preceding calendar year. Retain deposit accounts with approved bank and retain captive manager doing business in kentucky captives are subject to examination by the doi every 35 years. Our premium tax layer helps insurers get premium tax right. Illinois, kentucky, louisiana, new york, north carolina and south carolina.
An annual reconciliation form must also be filed by march 31st of the following year. Department of employee insurance kentucky employees health plan administration manual personnel cabinet department of employee insurance kentucky employees health plan 501 high street, 2nd floor frankfort, ky 40601. Information for software developers designing systems for insurance premium tax. Kentucky is committed to making sure our statutes and regulations keep pace with the changing needs of the captive insurance industry. Payment is to be made within 30 days after the date the policy was procured, continued or renewed. Commonwealth of kentucky department of insurance local. It is designed to function as a narrative aid to understanding the many statutes relating to county government. Kentucky department of insurance local government premium.
City, county, or urban county government quarterly insurance premium tax return form lgt 141 0405 affidavit of total consideration given for a motor vehicle 71a100 distributors schedule of receipts 72a179 distributors schedule of disbursements 72a178 forms resources by kentucky cabinets and agencies. Census boundary data and premium tax information from the state department of insurance to generate accurate policyholder premium taxes. The kentucky department of insurance regulates the commonwealths insurance market, licenses agents and other insurance professionals, monitors the financial condition of companies, educates consumers to make wise choices, and ensures kentuckians are treated fairly in the marketplace. Isos new service helps insurers in florida and kentucky determine and accurately pay local premium. Try our free sl tax calculator for california, texas, florida, ny, and more. Local government insurance premium taxes municipal premium. Local government insurance premium taxes municipal. If you have any questions, call the department of revenue at 502 5644581. Welcome to the kentucky department of revenues electronic payment application. Answers will be coordinated by the louisville metro office of management and budget. T he public protection cabinet and its employees touch the lives of many kentucky citizens. Sales and use tax laws are located in kentucky revised statutes chapter 9 and kentucky administrative regulations title 103. Program fund and the law enforcement foundation program fund. Traditional insurance companies admitted in georgia january 1, 2014, the georgia department of insurance mandated electronic filing for quarterly and annual premium tax returns.
These property taxes and premiums are paid from the escrow account as they become due. Extended hours and saturday support help when you are stuck in the office. Gis scientists, insurance professionals, and senior professional software developers. Kentucky law permits local governments to impose taxes on premiums charged by insurance companies, although not all of them do. According to the latest information available from the kentucky department of insurance doi, 362 municipalities and 42 counties currently impose insurance premium taxes. The official start date for electronic filing of tax year 2019 federal and kentucky returns is january 21, 2020. Proper allocation can prevent assessment of penalties by local governments. Kentucky premium tax ilsa insurance licensing services. The insurance premiums tax and premium surcharge laws are located in kentucky revised statutes chapter 6 and chapter 304. Kentucky department of insurance doi financial standards and examination division po box 517, 215 west main st, frankfort ky 406020517 phone. The previous rate brackets have been replaced with a flat 5% tax rate.
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