Premium Tax Regulations
In addition to Title 6 of the Insurance Article of the Annotated Code of Maryland, several clarifying regulations related to premium taxes are contained in the Code of Maryland Regulations referred to as COMAR Title 31, Maryland Insurance Administration. You will find these Regulations at the Division of State Documents.
COMAR 31.06.01 - Allocation and Taxation of Premiums
This establishes a uniform method for determining how gross direct premiums are to be allocated for tax purposes.
COMAR 31.06.02 - Retaliatory Tax
This establishes the requirement that each foreign and alien insurer licensed to do business in this state compute the retaliatory tax due and include the total due in its remittance for premium taxes to the Maryland Insurance Administration on or before March 15th each calendar year.
COMAR 31.06.04 - Premium Tax - Required Filings, Payments, Penalties, and Interest
This regulation clarifies the manner in which premium tax liability is estimated and paid, requires a person subject to premium tax to make certain filings, and imposes penalties and interest for failure to make certain tax payments or file certain reports.