Subtitle 6-102 of the Insurance Article, Annotated Code of Maryland, and Subtitle 5 of Title 31, Code of Maryland Regulations,
insurance companies are subject to a two percent (2%) tax on all new and
renewal gross premiums that are derived from or reasonably attributable to
insurance business in the State of Maryland.
In addition, foreign insurers are subject to retaliatory taxes as
delineated in Title 6, Subtitle 3 of the Insurance Article, Annotated Code of
subject to taxation are required to file a Declaration of Quarterly Estimated
Taxes and make quarterly payments if their total tax for the current calendar
year is reasonably expected to exceed $1,000.
At least 25% of the estimated tax for the full calendar year is to be
paid with each quarterly Declaration.
The due dates are as follows:
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