The Nevada Insurance Premium Tax is imposed on insurers for the privilege of transacting business in this State. Assessed upon net direct premiums and net direct considerations written.

• A tax rate of 3.5 percent is imposed on insurers for the privilege of transacting business in this State.
• Qualified Risk Retention Groups pay a premium tax of 2%.
• The premium tax is due on March 15th of each year on premiums written in the prior calendar year.
• Insurers who are required to pay a tax of at least $2,000 the preceding calendar year must pay quarterly tax payments based on actual net direct premiums and net direct considerations written for the current reporting quarter.

Penalty & Interest Denial Letter (PDF)

• Please click the above link for additional information. The Department does not have the statutory authority to waive any such penalties and interest
  related to premium taxes found in NRS 680B.027. Specifically, Insurance Premium Tax,
  Industrial Insurance Premium Tax, Retaliatory Tax, and Independently Procured Coverage
  Insurance Tax.

Quarterly Insurance Premium Tax Return January 1, 2021 to Current

• Who Should Use It? Insurance companies operating in Nevada that collect premiums from insurance policies.
• Filing Frequency: Quarterly. This return is filed four times a year to report premiums collected during each quarter.

Quarterly Industrial Insurance Premium Tax Return January 1, 2021 to Current

• Who Should Use It? Insurance companies specifically dealing with industrial insurance, such as workers' compensation.
• Filing Frequency: Quarterly. This form is used to report and pay tax on premiums collected for industrial insurance.

Annual Industrial Insurance (Workers Compensation) Premium Tax Reconciliation Return 2023

• Who Should Use It? Insurers that provide workers' compensation insurance.
• Filing Frequency: Annually. This return reconciles the taxes paid quarterly with the actual premiums collected annually.

Annual Insurance Premium Tax Reconciliation Return 2023 (Not for Industrial Insurance)

• Who Should Use It? All other insurance providers (not including industrial insurance) that are subject to premium taxes in Nevada.
• Filing Frequency: Annually. This form reconciles the quarterly payments made throughout the year with the total annual premiums taxed.
• Prior Periods:
  • Annual Insurance Premium Tax Reconciliation Return 2022 (Not for Industrial Insurance)
  • Annual Insurance Premium Tax Reconciliation Return 2021 (Not for Industrial Insurance)

Independently Procured Insurance Form

• Who Should Use It? Entities that procure insurance directly from insurers not licensed in Nevada, bypassing traditional insurance markets.
• Filing Frequency: Annually. This form reports and pays tax on premiums paid to non-licensed insurers, typically used by businesses insuring large or unique risks.

Important Payment Due Dates

• Annual Tax: Due on March 15th of each year, covering premiums and considerations written in the prior calendar year.
• Quarterly Payments: Insurers who owed at least $2,000 in tax for the previous calendar year must make quarterly tax payments.

• Nevada Insurance Inc. (General Insurer)
• Nevada Risk Group (Risk Retention Group)
• Annual Net Direct Premiums and Considerations:
  • Nevada Insurance Inc.: $100 million
  • Nevada Risk Group: $30 million

Tax Calculation:

• Tax for General Insurers (Nevada Insurance Inc.):
  • Tax Rate: 3.5%
  • Net Direct Premiums and Considerations: $100 million
  • Tax Calculation: $100,000,000 × 3.5% = $3,500,000
• Tax for Risk Retention Groups (Nevada Risk Group):
  • Tax Rate: 2% (reduced rate effective from June 17, 2005)
  • Net Direct Premiums and Considerations: $30 million
  • Tax Calculation: $30,000,000 × 2% = $600,000

Total Tax Due:

• Nevada Insurance Inc.: $3,500,000
• Nevada Risk Group: $600,000

• Insurance Premium Tax FAQs