297I.01 DEFINITIONS. Subdivision 1. Terms. Unless the language or context clearly indicates that a different meaning is intended, for the purposes of this chapter, the following terms have the meanings given them. Subd. 1a. Affiliated group. “Affiliated group” means a group that includes the insured and any entity, or group of entities, that controls, is […]
297I.05 TAX IMPOSED. Subdivision 1. Domestic and foreign companies. Except as otherwise provided in this section, a tax is imposed on every domestic and foreign insurance company. The rate of tax is equal to two percent of all gross premiums less return premiums on all direct business received by the insurer or agents of the […]
297I.06 SURCHARGES ON FIRE SAFETY PREMIUMS. Subdivision 1. Insurance policies surcharge. (a) Except as otherwise provided in subdivision 2, each licensed insurer engaged in writing policies of homeowner’s insurance authorized in section 60A.06, subdivision 1, clause (1)(c), or commercial fire policies or commercial nonliability policies shall collect a surcharge as provided in this paragraph. Through […]
297I.10 SURCHARGE ON PREMIUMS TO RESTORE DEFICIENCY IN SPECIAL FUND. Subdivision 1. Cities of the first class. (a) The commissioner shall order and direct a surcharge to be collected of two percent of the fire, lightning, and sprinkler leakage gross premiums, less return premiums, on all direct business received by any licensed foreign or domestic […]
297I.11 AUTOMOBILE THEFT PREVENTION SURCHARGE. Subdivision 1. Surcharge. Each insurer engaged in the writing of policies of automobile insurance shall collect a surcharge, at the rate of 50 cents per vehicle for every six months of coverage, on each policy of automobile insurance providing comprehensive insurance coverage issued or renewed in this state. The surcharge […]
297I.15 EXEMPTIONS FROM TAX. Subdivision 1. Government payments. Premiums under the Minnesota comprehensive health insurance plan and all payments, revenues, and reimbursements received from the federal government for Medicare-related coverage as defined in section 62A.3099 are not subject to tax under this chapter. Subd. 2. Minnesota employees insurance program. To the extent that the Minnesota […]
297I.20 OFFSETS AGAINST PREMIUM TAXES. Subdivision 1. Guaranty association assessment offsets. (a) An insurance company or health maintenance organization may offset against its premium tax liability to this state any amount paid for assessments made for insolvencies under sections 60C.01 to 60C.22; and any amount paid for assessments under Minnesota Statutes 1992, sections 61B.01 to […]
297I.25 INFORMATION RETURNS. Subdivision 1. Licensed brokers or agents of risk retention groups. To the extent licensed agents or brokers are utilized in accordance with section 60E.12, they shall report to the commissioner the premiums received for direct business for risks resident or located within this state which the licensees have placed with or on […]
297I.26 FIRE AND POLICE PREMIUM REPORTS. Subdivision 1. Filing reports. (a) Each company must file with the commissioner the reports defined in sections 477B.01, subdivision 8, and 477C.01, subdivision 4, signed by the authorized representative of the company, on or before March 1 annually. The fire and extended coverage portion of multiperil package premiums and […]
297I.30 DUE DATES FOR FILING RETURNS. Subdivision 1. General rule. On or before March 1, every taxpayer subject to taxation under section 297I.05, subdivisions 1 to 5; 7, paragraph (b); 12; and 14, shall file an annual return for the preceding calendar year in the form prescribed by the commissioner. Subd. 2. Surplus lines brokers. […]
297I.35 PAYMENT OF TAX. Subdivision 1. General rule. All taxes and surcharges imposed under this chapter must be paid to the commissioner by the date that the return must be filed under section 297I.30. Subd. 2. Electronic payments. If the aggregate amount of tax and surcharges due under this chapter during a fiscal year ending […]
297I.40 ESTIMATED TAX. Subdivision 1. Requirement to pay. On or before March 15, June 15, September 15, and December 15 of the current year, every taxpayer subject to tax under section 297I.05, subdivisions 1 to 5, and 12, paragraph (a), clauses (1) to (4), and 14, must pay to the commissioner an installment equal to […]
297I.60 CLAIMS FOR REFUND. Subdivision 1. General right to refund. (a) Subject to the requirements of this section and section 297I.70, if a taxpayer has paid a tax or surcharge in excess of the amount due and files a written claim for refund, the commissioner shall refund or credit the overpayment determined by the commissioner […]
297I.65 LIMITATIONS OF TIME FOR ASSESSMENT OF TAX. Subdivision 1. General rule. Except as otherwise provided, the amount of taxes or surcharges assessable must be assessed within 3-1/2 years after the date the return is filed. Subd. 2. Filing date. For purposes of this section, a return filed before the last day prescribed by law […]
297I.70 LIMITATION ON CLAIMS FOR REFUND. Except as provided in section 297I.75, a claim for refund of an overpayment must be filed within 3-1/2 years from the date prescribed for filing the return, or one year from the date of an order assessing tax or surcharge, or one year from the date of a return […]
297I.75 CONSENT TO EXTEND TIME. If before the expiration of the time prescribed in sections 297I.65 and 297I.70 for the assessment of tax or surcharge or the filing of a claim for refund, the commissioner and the taxpayer have consented in writing to the assessment or filing of a claim for refund after that time, […]
297I.80 INTEREST. Subdivision 1. Payable to commissioner. (a) When interest is required under this section, interest is computed at the rate specified in section 270C.40. (b) If a tax or surcharge is not paid within the time named by law for payment, the unpaid tax or surcharge bears interest from the date the tax or […]
297I.85 CIVIL PENALTIES. Subdivision 1. Late filing penalty. If a taxpayer fails to file a return within the time prescribed, a penalty of five percent of the amount of tax or surcharge not timely paid is added to the tax or surcharge. Subd. 2. Late payment penalty. If a taxpayer fails to pay a tax […]
297I.90 CRIMINAL PENALTIES. Subdivision 1. Penalties for knowing failure to file or pay; willful evasion. (a) If a person is required to file with the commissioner a return, report, or other document, and that person fails to file it when required and does so knowingly, rather than accidentally, inadvertently, or negligently, that person is guilty […]
