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Maine Estimated Payment Return for Nonadmitted Premiums Tax
Extracted from PDF file 2024-maine-ins-6.pdf, last modified November 2023Estimated Payment Return for Nonadmitted Premiums Tax
Clear Form INS-6 1st Payment 2024 Due: April 30, 2024 Print Maine Estimated Payment for 99 Nonadmitted Premiums Tax (Self-Procured & Surplus Lines) *2332001* Note: Certain taxpayers are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-6. NOTE: If Producer is filing, enter name (last, first, middle initial) and SSN. If Agency is filing on behalf of Producer, enter Agency Name and EIN. Self-Procured filers: if individual, enter SSN; if entity, enter EIN. DO NOT ENTER LICENSE NUMBER below. Producer or Self-Procured Individual: Last Name First name MI SSN OR Agency or Self-Procured Entity: Name Federal EIN Address Contact Name Telephone Company/ Employer* *Individual Producers enter the name of your employer or Agency. Estimated Payment (from worksheet, line 3 below) .. .00 Estimated Tax Payment Worksheet You Must Make Estimated Payments, Unless: 1. 2. You are a Risk Retention Group, or Your annual tax obligation does not exceed $1,000 Line A: Enter the total tax liability for 2023. .............................................................................................. $ .00 Line B: Enter the total estimated tax liability for 2024. ............................................................................ $ .00 Line C: Enter the amount of premiums on contracts written during January 1 through April 30, 2024. ................................................................................................................................. $ .00 Line 1: First Payment Tax Estimate. (You may elect to pay either 35% of line A or line B, or 3% of line C.) ............................................................................................................................... $ .00 Line 2: Carryover From Prior Year. From 2023 Form INS-7, line 9a. Do not enter more than line 1 ......................................................................................................................................... $ .00 Line 3: Estimated Payment. Subtract line 2 from line 1. Enter result here and also on estimated payment line above .......................................................................................................................... $ .00 Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the State Tax Assessor, in which case the failure-to-file penalty is the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-7, Annual Return. File Form INS-7, Nonadmitted Premiums Tax, annual reconciliation/return by March 17, 2025 to reconcile your 2024 SelfProcured and Surplus Lines tax liability and estimated payments and to pay any additional tax due to avoid interest and penalty charges. Statutory Reference. This return is made in compliance with 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 Form INS-6 2nd Payment 2024 Due: June 25, 2024 Maine Estimated Payment for 99 Nonadmitted Premiums Tax (Self-Procured & Surplus Lines) *2332001* Note: Certain taxpayers are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-6. NOTE: If Producer is filing, enter name (last, first, middle initial) and SSN. If Agency is filing on behalf of Producer, enter Agency Name and EIN. Self-Procured filers: if individual, enter SSN; if entity, enter EIN. DO NOT ENTER LICENSE NUMBER below. Producer or Self-Procured Individual: Last Name First name MI SSN OR Agency or Self-Procured Entity: Name Federal EIN Address Contact Name Telephone Company/ Employer* *Individual Producers enter the name of your employer or Agency. Estimated Payment (from worksheet, line 3 below) .. .00 Estimated Tax Payment Worksheet You Must Make Estimated Payments, Unless: 1. 2. You are a Risk Retention Group, or Your annual tax obligation does not exceed $1,000 Line A: Enter the total tax liability for 2023. .............................................................................................. $ .00 Line B: Enter the total estimated tax liability for 2024. ............................................................................ $ .00 Line C: Enter the amount of premiums on contracts written during May 1 through June 25, 2024. ................................................................................................................................. $ .00 Line 1: Second Payment Tax Estimate. (You may elect to pay either 35% of line A or line B, or 3% of line C.) ............................................................................................................................... $ .00 Line 2: Carryover From Prior Year. From 2023 Form INS-7, line 9a. Do not enter more than line 1 ......................................................................................................................................... $ .00 Line 3: Estimated Payment. Subtract line 2 from line 1. Enter result here and also on estimated payment line above .......................................................................................................................... $ .00 Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the State Tax Assessor, in which case the failure-to-file penalty is the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-7, Annual Return. File Form INS-7, Nonadmitted Premiums Tax, annual reconciliation/return by March 17, 2025 to reconcile your 2024 Self-Procured and Surplus Lines tax liability and estimated payments and to pay any additional tax due to avoid interest and penalty charges. Statutory Reference. This return is made in compliance with 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 Form INS-6 Maine Estimated Payment for 99 Nonadmitted Premiums Tax 3rd Payment 2024 Due: October 31, 2024 (Self-Procured & Surplus Lines) *2332001* Note: Certain taxpayers are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-6. NOTE: If Producer is filing, enter name (last, first, middle initial) and SSN. If Agency is filing on behalf of Producer, enter Agency Name and EIN. Self-Procured filers: if individual, enter SSN; if entity, enter EIN. DO NOT ENTER LICENSE NUMBER below. Producer or Self-Procured Individual: Last Name First name MI SSN OR Agency or Self-Procured Entity: Name Federal EIN Address Contact Name Telephone Company/ Employer* *Individual Producers enter the name of your employer or Agency. Estimated Payment (from worksheet, line 3 below) .. .00 Estimated Tax Payment Worksheet You Must Make Estimated Payments, Unless: 1. 2. You are a Risk Retention Group, or Your annual tax obligation does not exceed $1,000 Line A: Enter the total tax liability for 2023. .............................................................................................. $ .00 Line B: Enter the total estimated tax liability for 2024. ............................................................................ $ .00 Line C: Enter the amount of premiums on contracts written during June 26 through October 31, 2024. ........................................................................................................................... $ .00 Line 1: Third Payment Tax Estimate. (You may elect to pay either 15% of line A or line B, or 3% of line C.) ............................................................................................................................... $ .00 Line 2: Carryover From Prior Year. From 2023 Form INS-7, line 9a. Do not enter more than line 1 ......................................................................................................................................... $ .00 Line 3: Estimated Payment. Subtract line 2 from line 1. Enter result here and also on estimated payment line above .......................................................................................................................... $ .00 Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the State Tax Assessor, in which case the failure-to-file penalty is the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-7, Annual Return. File Form INS-7, Nonadmitted Premiums Tax, annual reconciliation/return by March 17, 2025 to reconcile your 2024 Self-Procured and Surplus Lines tax liability and estimated payments and to pay any additional tax due to avoid interest and penalty charges. Statutory Reference. This return is made in compliance with 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023
2024 Form INS-6
More about the Maine INS-6 Individual Income Tax TY 2024
Use this form for the annual reconciliation of your Self-Procured and Surplus Lines tax liability and their estimated payments
We last updated the Estimated Payment Return for Nonadmitted Premiums Tax in March 2024, so this is the latest version of INS-6, fully updated for tax year 2023. You can download or print current or past-year PDFs of INS-6 directly from TaxFormFinder. You can print other Maine tax forms here.
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| Form Code | Form Name |
|---|---|
| Form 1040ES-ME | Vouchers and Instructions for Estimated Tax Payments |
| Income Tax Instructions | Form 1040ME Instructions |
| Schedule PTFC | Schedule PTFC Property Tax Fairness Credit |
| Worksheets A - B | Residency Information and Income Allocation for Nonresidents and Part-Year Residents |
| Schedule B | Minimum Tax Worksheet for Schedule B |
View all 62 Maine Income Tax Forms
Form Sources:
Maine usually releases forms for the current tax year between January and April. We last updated Maine INS-6 from the Revenue Services in March 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Maine INS-6
We have a total of three past-year versions of INS-6 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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