Form IG255 Nonadmitted Insurance Premium Tax Return for Direct Procured Insurance - Minnesota

What Is Form IG255?

This is a legal form that was released by the Minnesota Department of Revenue - a government authority operating within Minnesota. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the Form IG255 Nonadmitted Insurance Premium Tax Return for Direct Procured Insurance?A: It is a tax return form used by insurers to report nonadmitted insurance premiums for insurance policies directly procured by the insured in Minnesota.

Q: Who needs to file the Form IG255 Nonadmitted Insurance Premium Tax Return?A: Insurers who provide nonadmitted insurance coverage for policies directly procured by the insured in Minnesota need to file this tax return.

Q: What is nonadmitted insurance?A: Nonadmitted insurance refers to insurance coverage not available through licensed insurers in a particular state.

Q: How often should the Form IG255 Nonadmitted Insurance Premium Tax Return be filed?A: This form should be filed annually by the due date specified by the Minnesota Department of Revenue.

Q: Are there any penalties for not filing the Form IG255 on time?A: Yes, the Minnesota Department of Revenue may assess penalties for late or non-filing of this tax return.

Q: Are there any specific instructions or guidelines for completing the Form IG255?A: Yes, the Minnesota Department of Revenue provides detailed instructions along with the form. Please refer to those instructions for accurate completion.