Premium Tax Frequently Asked Questions

  [FAQ# 01]  Who must file an annual premium tax return?

Admitted insurance companies holding a valid certificate of authority.
(See surplus lines below for licensed surplus line brokers, Risk Retention Groups and insured’s procuring insurance from unauthorized insurers.)

  [FAQ# 02]  What is the Premium Tax Rate?

The State tax rate for admitted companies if 2.25% while the Local tax rate is 1% for Life companies and 2.5% for Other Than Life companies.

  [FAQ# 03]  What is the Premium Tax base?

Gross Direct Premiums received from direct writings, refer to O.C.G.A. § 33-8-4.

  [FAQ# 04]  Where can I find the Premium Tax forms on your website?

From the Home page at www.oci.ga.gov, select the Premium Tax tab, then "Forms and Filings Instructions", then select "Admitted Companies" - the forms are categorized by type of company.

  [FAQ# 05]  When are my Premium Tax Returns due?

The Annual Premium Tax Return is due on or before March 1st each year. Four quarterly returns and prepayments are due March 20th, June 20th, September 20th and December 20th.

  [FAQ# 06]  Where do I mail my return and tax payments?

PAYMENTS & MAILING INSTRUCTIONS FOR PAPER FILERS
If Paying By ACH: Georgia Dept. of Insurance Suite 916 #2 Martin Luther King, Jr. Dr. Atlanta, GA 30334	If Paying By Check: Mail return and payment to: Georgia Dept. of Insurance Premium Tax Division P.O. Box 935134 Atlanta, GA 31193-5134	To overnight payment: Send return and payment to: Georgia Dept. of Insurance Premium Tax Division Lockbox 935134 3585 Atlanta Avenue Hapeville, GA 30354
PAYMENT INSTRUCTIONS FOR ELECTRONIC FILERS
If Paying By ACH: Include NAIC#, Company Name and tax period on ACH payment.	If Paying By Check: Mail payment and voucher to: Georgia Dept. of Insurance Premium Tax Division P.O. Box 935134 Atlanta, GA 31193-5134	To overnight payment: Send payment and voucher to: Georgia Dept. of Insurance Premium Tax Division Lockbox 935134 3585 Atlanta Avenue Hapeville, GA 30354

  [FAQ# 07]  Is e-filing available?

E-filing is available for Admitted companies beginning October 22, 2010. This is not available for Surplus Lines business at this time.

  [FAQ# 08]  Can I file an extension of time for filing my return or payment of tax?

An extension may be granted for no more than thirty (30) days, refer to O.C.G.A. § 33-2-31

  [FAQ# 09]  How do I calculate my prepayments?

Two methods are available for paying quarterly prepayments: Method One (1) is calculated by paying the prior year’s tax liability in four (4) equal installments. Method Two (2) is based on estimated taxable premium for the quarter multiplied by 2.25% - quarterly payments must be at least 80% of the amount FINALLY SHOWN TO BE DUE, refer to O.C.G.A. § 33-8-6(c).

  [FAQ# 10]  Does the Premium Tax Division accept electronic fund transfers?

Yes. Information necessary for an electronic funds transfer may be obtained by calling or emailing the division.

  [FAQ# 11]  Is the postmark date acceptable for timely proof of filing?

Yes, if it is postmarked by the U.S. Postal Service – IN HOUSE postage stamp is NOT ACCEPTABLE.

  [FAQ# 12]  How do I request a refund if I have a tax overpayment?

Submit a request for refund under separate cover in writing – do not include with quarterly or annual tax filings.

  [FAQ# 13]  How do I amend my return?

Check “amended” on the return for the appropriate year and complete the return with the amended amounts.

  [FAQ# 14]  What information must be submitted if I am claiming a Georgia Housing Tax Credit?

Include a completed and executed Form IT-HC, page three ONLY (total of housing credits claimed) as well as a Georgia K-1 equivalent(s) which indicates the allocation amount to the insurance partner and a building-by-building allocation(s).

  [FAQ# 15]  Who must file a Surplus Line affidavit?

Licensed Surplus Line Brokers, Risk Retention Groups and individual insured’s who have not procured insurance through a licensed surplus line broker. O.C.G.A. § 33-5, § 33-40-5.

Please do not file "zero" (no business for the quarter) affidavits until futher notice! ONLY file an affidavit when there is business to report.

  [FAQ# 16]  What is the tax rate on surplus line business and direct procurement?

When Georgia is the home state, pay 4% on total premiums. For additional information regarding the filing change, please refer to Bulletin 12-EX-1.

  [FAQ# 17]  Is a Surplus Line Broker permitted to add additional fees?

NO fees are allowed outside the policy premium. Refer to the definition of premium at O.C.G.A. §33-24-1(2), and also § 33-6-5(6)(B)(ii)

  [FAQ# 18]  What is the tax rate on Risk Retention Groups?

4% on premiums.

  [FAQ# 19]  Where do I find surplus line forms (affidavits)?

From the Home page at www.oci.ga.gov, select the Premium Tax tab, then "Forms and Filings Instructions", then select "Surplus Line Broker". Use the Microsoft Excel workbook.

NOTE: some Excel functions do not operate in the same manner. Please read instructions carefully.

  [FAQ# 20]  When is my affidavit and payment due?

Surplus Line Brokers’ affidavit and payment are due on or before the 15th day of April, July, October and January.

  [FAQ# 21]  Where do I mail my affidavit?

PAYMENTS & MAILING INSTRUCTIONS FOR PAPER FILERS
If Paying By ACH: Georgia Dept. of Insurance Suite 916 #2 Martin Luther King, Jr. Dr. Atlanta, GA 30334	If Paying By Check: Mail return and payment to: Georgia Dept. of Insurance Premium Tax Division P.O. Box 935134 Atlanta, GA 31193-5134	To overnight payment: Send return and payment to: Georgia Dept. of Insurance Premium Tax Division Lockbox 935134 3585 Atlanta Avenue Hapeville, GA 30354

  [FAQ# 22]  Can I request a refund?

No. Returns and changes in premiums are allowed as credits against the premium written and reported on your affidavit. O.C.G.A. §§ 33-5-31(a), 33-5-33(b), 33-40-5(a).

  [FAQ# 23]  How do I claim a credit for returned or a change in premium?

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Report the return/change premium on the quarterly affidavit, include the date of the affidavit on which the original premium and tax was reported. A broker may only claim credit for business written under his/her individual surplus lines license.

Use the Microsoft Excel workbook.

NOTE: some Excel functions do not operate in the same manner. Please read instructions carefully.