WHAT AND HOW MUCH IS IDAHO PREMIUM TAX?

The ANNUAL premium tax is currently at 1.50% and is paid to the State of Idaho on surplus line coverages written by a broker with unauthorized eligible insurers. Surplus Line premium tax is the same rate of tax as imposed by law on the premiums of like coverages written by authorized insurers. Electronic reporting of tax is MANDATORY eff 1/1/19. If no business is written, you must still file and report 0. Penalty for late reporting is assessed at $25.00/day commencing April 1. Refer to Forms and Links, ANNUAL SL PREMIUM TAX & PAYMENT.

If the policy is a multi-state risk, premium tax and stamping fee is assessed only if Idaho is the home state. Select Forms & Links (In a Nutshell) for home state definition.