Insurance Premium Tax FAQs
Per NRS 680B, Nevada imposes a tax of 3.5% of net direct premiums written and net direct considerations written in our state. Qualified Risk Retention Groups pay a premium tax of 2%.
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When are the Quarterly Insurance Returns due?
Pursuant to NRS 680B.032 each quarterly payment is due on the last day of the last month in each calendar quarter and is payable on or before the last day of the month next succeeding the calendar quarter for which the payment is due.
How is your filing frequency determined?
Pursuant to NRS 680B.032 each insurer which paid or is required to pay a tax of at least $2,000 on net direct premiums and net direct considerations written during the preceding calendar year, shall file a quarterly report.
My insurance company sent me my renewal notice. My annuity statement indicates I am to pay a tax on my annuity. I have never heard of this before, is this correct?
NRS 680B.027 requires insurers to pay a 3.5% tax on net direct premiums and net direct considerations written in Nevada. The statute does not prevent the insurer from passing this cost on to their customers.
Can I file my return online?
Taxpayers cannot file their Insurance Premium Tax or Industrial Insurance Premium returns or reconciliations online using Nevada Tax Center, they are required to mail, fax, or email in the return to: premiumtax@tax.state.nv.us or NevadaOLT@tax.state.nv.us.
They can make tax payments online using the online tax portal, and also have the ability to mail in a check on walk into a physical location.
Note: FAQs are for general guidance only. For written advice as it relates to your business, request an advisory opinion from the Department.