Tax Estimator
Estimate:
DISCLAIMER: This tax calculator is a tool for estimates only and does not provide legal or tax advice.
Helpful Hints and Tips:
- The items allowable under “premium” are found in 225.001(5) of the Texas Insurance Code.
- The tax estimator can be used for individual policies or groups of policies that fall into the same date range.
- The following are tax-exempt policies under 225.004 of the Texas Insurance Code:
- Covering federal waters
- Covering international waters
- Under the jurisdiction of a foreign government
- Ocean marine insurance coverage of stored or in-transit baled cotton for export
- The following are federally preempted:
- Federally chartered credit unions
- National Credit Union Administration (when acting as conservator or liquidating broker for Federal Credit Unions)
- Activities that occur on tribal lands
- Policies that are tax-exempt or federally preempted are still subject to stamping fees.
- An exemption from sales tax does not necessarily qualify for a surplus lines tax-exemption or federal preemption.
- For more information on policies that are exempt from taxation, please see the Surplus Lines Tax Exemptions/Preemptions brochure on the Comptroller’s Office.
- For more information on tax compliance relating to the NRRA, please see the Comptroller’s publication entitled Guidelines for Premium Tax Compliance with the Nonadmitted and Reinsurance Reform Act.
Update from the Texas Comptroller of Public Accounts
The Office of the Texas Comptroller of Public Accounts has now successfully completed programming to no longer require zero reports for Surplus Lines agents and agencies. Note: the exemption from filing zero reports does not apply to surplus lines insurers.