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  • Elany - Updates Aff. C & Total Cost Form - Hr Keller & Co. - Elany

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Bulletin No. 2011-17 June 22, 2011 RE: NEWLY REVISED AFFIDAVIT PART A, AFFIDAVIT PART C AND NOTICE OF EXCESS LINE PLACEMENT FORMS The new Affidavit Part A and Part C forms and the Notice of Excess.

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An excess line broker must pay a tax of 3.6% on the gross premium minus premiums returned to insureds when New York is the Home State of the insured (§2118(d)(1)). It is the legal obligation of the excess line broker to file tax returns and pay taxes.

An excess line broker is obligated to pay to the Superintendent the excess line premium tax of a sum equal to three and six-tenths percent of the gross premiums charged the insured by the insurer for insurance procured by using its New York excess line license under N. Y.

The 3.6 percent excess line tax that you see on your bill is paid annually by the excess line broker to New York state. It serves as a substitute for the franchise tax that would have been collected from the insurer were it authorized in New York state.

The stamping fee on endorsements will be the same percentage as charged on the original policy filed. Therefore, the stamping fee for all endorsements on policies that incept on or after January 1, 2023 will be 0.15%.

Appendix A StateStatutory Citation to Insurance CodeTax Rate AppliedCalifornia§1775.5 §1775.1(a)3% (+ stamping fee of 0.18%, effective Jan. 1, 2023) (monthly or annual based on prior year tax liability).Colorado§10-5-1113%Connecticut§38(a)-7434% (quarterly)Delaware§19253%101 more rows

The Surplus Lines Affidavit serves two main purposes: Confirms the agent and insured are aware that the market with which the coverage was placed is not part of that state's insurance guarantee fund. Provides a record of the collection of surplus lines taxes and state fees.

The Superintendent of the Department of Financial Services has approved ELANY's request to reduce the ELANY stamping fee to 0.15%. The excess line tax remains 3.6% of New York taxable premium. This stamping fee reduction will be effective on all excess line policies which incept on or after January 1, 2023.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232