If I am claiming Guaranty Fund Credits on the premium tax return, what needs to be submitted with the tax return?
The Department issues a Notice of Guaranty Fund Assessment Premium Tax Offset Allowance to each company that has any available credits. No attachment is necessary unless the company has a Certificate of Contribution for a Class C assessment that was not included on the Notice. 20. I received a Certificate of Contribution for a Class B assessment that was paid to the Guaranty Association. At the bottom it said to save for tax purposes. Can it be applied as a credit to premium tax? No. You may be able to use it on other types of tax (for example, Federal taxes) to which the company may be subject, but the Commissioner has declared that only Class C assessments may be applied as credits to premium tax.
Related Questions
- NEW Q: Will the guaranty fund send unearned premium checks automatically, without requiring the policyholder to complete and return a claim form?
- If I am claiming Guaranty Fund Credits on the premium tax return, what needs to be submitted with the tax return?
- What evidence needs to be submitted for claiming HRA?
