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Tennessee Surplus Lines Premium Taxes Due August 15th

Jul 13, 2017 Alerts

The Tennessee Department of Commerce & Insurance sent an email reminder that surplus lines premium taxes are due quarterly (2nd Quarter – Due date 8/15/2017) and payment of taxes on policies and subsequent endorsements to policies effective on or after 10/1/2016 must be paid in the Clearinghouse. The Clearinghouse has provided an invoice in SLIP that must be paid through SLIP. Furthermore, taxes on policies and subsequent endorsements to policies effective prior to 10/1/2016 cannot be paid through SLIP but should be sent directly to Tennessee via OPTins or paper Form SL3 with check.

Your billing detail report in SLIP will only reflect items that the Clearinghouse has invoiced. All other items (Transactions on policies effective prior to 10/1/2016) can be found by running the SLIP Transactions report (which is required to be sent with SL3 and OPTins filings) and removing the items that are included on the Invoice in SLIP. The easiest way to do this is to look in the column titled “Clearinghouse Fee”; if there is a fee it was invoiced, if no fee then it was not invoiced and you must submit payment via OPTins or paper SL3.

Click here for more information.

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