July 20, 2009
New Jersey Insurance Department clarifies surplus lines premium tax
requirements
At the
end of June, the New Jersey legislature passed a budget bill which would, among
other things, increase the surplus lines premium tax in that state from three
percent to five percent, effective July 1, 2009. In light of numerous questions
raised regarding the implementation of this change, the NJDOBI last week issued
a clarifying letter (see attached).
The
letter states, in part, that producers may delay submitting the increased tax
until the filing of their fourth quarter tax return, to allow them time to
institute the necessary system modifications and related billings.
PIWA Fall Conference registration is open!
Watch
your PIWA mail, or go to
http://www.piwa.org/promo_annualconference_09.php
for details on PIWA’s 2009 conference, to be held Sept. 23-24 at the Pearl River
Hilton. Join your colleagues for a fun and challenging golf outing on the 23rd,
help us to recognize Dave MacLeod as PIWA’s Service to the Industry Award
winner, and don’t miss the on target and interesting panel discussion education
sessions on Sept. 24.
Register
today!
