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!