Illinois insurance surplus lines tax. S. 5% of total gross premium) based on the total premium entered into the system. Classes of insurance Class 1. 13 of this Code. To access InsCipher's more enhanced E&S tax reporting software options for all 50 states, consider subscribing to our premium surplus lines tax services. SLAI Plan of Operation Sec. 2. 4. . In provisions concerning surplus line insurance, changes the definition of "home state". Code 2500. Oct 1, 2013 · The surplus line tax imposed by the State of Illinois is 3. Surplus Line Association of Illinois (SLAI) Sec. On the flipside, do not send your SLAI document filings or stamping fee payments to the Department of Insurance! Due Dates Surplus Line Tax Fire Marshal Tax Designating a Tax Statement Recipient How to Get in Trouble Late Fees Aug 1, 2025 · The dedicated professionals who are members of the SLAI play an essential role in the Illinois economy by finding insurance coverage for emerging, unique, challenging and specialty risks. The address is on your tax forms. 1. 140 Surplus Lines Producer Taxes Jul 21, 2020 · "Personal lines insurance" means insurance as defined in subsection (a), (b), or (c) of Section 143. 092% for this tax effective immediately. SLAI Examination Sec. LRB104 08171 BAB 18220 b The Illinois surplus line law permits a licensed surplus line producer to procure insurance from an unauthorized or domestic surplus line insurer after the insurance producer representing the insured or the surplus line producer is unable, after diligent effort, to procure the insurance from authorized insurers. SLAI Board of Directors Sec. It is assessed against premium only. 5% of the policy premium, rounded to the nearest whole dollar. Do not include any broker fees, inspection fees or other items when calculating the tax – just what is shown as "premium" on the policy. Company Taxes - 50 IL Adm. Penalties Classes of Insurance Sec. 90 Industrial Commission Surcharge – 215 ILCS 5/416 * House Bill SB 1996, signed by the Governor on June 5, 2024, changes the percentage rate from 1. Taxes are paid to the "Illinois State Treasurer, Department of Insurance" and mailed to the Comprehensive guide to surplus lines insurance tax rates, fees, associations, export lists, and industrial insured exemptions by state. Tax forms and payments are sent to the Department of Insurance in Springfield. Makes other conforming changes. 6% (4% surplus lines tax plus 2% Municipal Association tax) (Quarterly and Annual) This simplified version of our more advanced surplus lines tax calculator is made available free of charge. Sep 1, 2025 · Learn surplus lines tax by state, including state-specific rules, exemptions, and how they affect insurance coverage and costs across the U. The Association and its members are committed to maintaining a healthy, fair, law-abiding and competitive surplus line insurance marketplace. Surplus Line Law Sec. 445a. 445. Life, Accident and Health Class 2 Jan 1, 2022 · Amends the Illinois Insurance Code. 01% to 1. Deposits and Fees Producer License Fees Financial Regulation Fee for Licensed Companies - 50 IL Adm. This line presents a system generated count of the number of lines of coverage and the sum of the Premium and Fire Marshal Tax columns. SLAI Immunity Sec. 446. Domestic surplus line insurer Sec. Find detailed information for all U. Effective January 1, 2022, Illinois passed legislation (SB 1753) that eliminates the diligent search requirement with respect to commercial insurance contracts and only in those situations where the risk was referred to the surplus lines producer by an Illinois licensed insurance producer who is not affiliated with the surplus line producer. 4. 5. "Premium" means any amount designated as premium on the declarations page or elsewhere in a policy and on any endorsement, but does not include taxes, the Surplus Line Association of Illinois recording fee, or any other fee. Do not send tax forms and tax payments to the SLAI. Surplus Line Law & Related Laws Sec. states and territories including stamping fees, surcharges, and regulatory fees. With InsCipher's databases of accurate and regularly-updated tax rates, calculating Illinois surplus lines taxes just got easier. The efile system automatically calculates the surplus line tax (the current rate is 3. 100 - 2500. 3. Codes 2500. z2y viuro oy kyp 5s14u3 lltf1 vns qtb y2gf3 6dlhz