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§ 3-325. Report of premium receipts and payment of tax

West's Annotated Code of MarylandInsuranceEffective: October 1, 2017

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 3. Kinds of Insurers
Subtitle 3. Surplus Lines Insurance (Refs & Annos)
Effective: October 1, 2017
MD Code, Insurance, § 3-325
§ 3-325. Report of premium receipts and payment of tax
Currentness
In general
(a) On or before March 15 and September 15 of each year, or at another interval that the Commissioner directs, each surplus lines broker that has transacted surplus lines business in the State during the reporting period shall:
(1) file with the Commissioner a report, on a form the Commissioner prescribes, on business subject to tax during the preceding half calendar year or other interval that the Commissioner directs; and
(2) pay to the Commissioner the total amount of tax stated in the report.
Content and filing deadlines of report
(b) By regulation, the Commissioner shall determine the required content and filing deadlines of the report.
Report available to public
(c) Each report shall be open to public inspection.
Credit of examination expense against premium receipts tax
(d) A qualified surplus lines broker may credit any examination expense paid or assessed under § 2-208 of this article against the premium receipts tax due to the State.
Construction with Title 6, Subtitle 1 of article
(e) With respect to surplus lines premium receipts tax due to the State, a surplus lines broker is subject to the provisions of Title 6, Subtitle 1 of this article relating to penalties, interest, audits, assessments, limitations, appeals, and refunds.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1996, c. 60, § 1, eff. Oct. 1, 1997; Acts 1998, c. 751, § 1, eff. Oct. 1, 1998; Acts 2011, c. 520, § 1, eff. July 1, 2011; Acts 2011, c. 521, § 1, eff. July 1, 2011; Acts 2017, c. 37, § 1, eff. Oct. 1, 2017.
Formerly Art. 48A, § 195.
MD Code, Insurance, § 3-325, MD INSURANCE § 3-325
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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