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Premium is taxed at 4.94%, regardless of the state in which there is exposure. Any subsequent endorsements would be reported to FSLSO with the Florida and Non-Florida premium breakdown, and the entire premium would be taxed at 4.94%. The tax rate reduction does not apply to independently procured coverage (IPC).
Property Tax Exemptions and Additional Benefits Further benefits are available to property owners with disabilities, senior citizens, veterans and active duty military service members, disabled first responders, and properties with specialized uses.
(1) Any licensed surplus lines agent who neglects to file a report or an affidavit in the form and within the time required or provided for in the Surplus Lines Law may be fined up to $50 per day for each day the neglect continues, beginning the day after the report or affidavit was due until the date the report or ...
In order to be exempt from surplus lines tax, the entity should be a governmental (state, county, municipality) entity. Non-profit 501(c)(3) organizations are typically exempt from sales tax but are not exempt from surplus lines tax unless proven otherwise by the entity and their filing surplus lines agent.
(1) The premiums charged for surplus lines coverages are subject to a premium receipts tax of 4.94 percent of all gross premiums charged for such insurance.