NY | The Excess Line Association of New York has issued Bulletin No 2022-04.
All licensed excess line brokers must file a tax return ELECTRONICALLY (Premium Tax Statement) on or before March 15, 2022, even if NO business was placed under that license. New York and a number of other states assess up to a $500 penalty if you fail to file. Brokers having no business to report may access the New York State Department of Financial Services’ (DFS) electronic filing system now to file a “zero” tax return (see Bulletin 2022-01). So, be sure to file tax returns in all states, which require you to do so.