Instructions for Form DR-908 Insurance Premium Taxes and Fees Return - Florida

Form DR-908 Insurance Premium Taxes and Fees Return - Florida

This document contains official instructions for Form DR-908 , Insurance Premium Taxes and Fees Return - a form released and collected by the Florida Department of Revenue. An up-to-date fillable Form DR-908 is available for download through this link.

FAQ

Q: What is Form DR-908?A: Form DR-908 is the Insurance Premium Taxes and Fees Return for the state of Florida.

Q: Who needs to file Form DR-908?A: Insurance companies and other entities licensed under Florida insurance laws who are subject to insurance premium taxes and fees need to file Form DR-908.

Q: What is the purpose of Form DR-908?A: The purpose of Form DR-908 is to report and pay the required insurance premium taxes and fees to the state of Florida.

Q: When is Form DR-908 due?A: Form DR-908 is due on or before March 1st of each year.

Q: Are there any penalties for late filing?A: Yes, there are penalties for late filing. A penalty of 10% of the tax due is assessed for each month or fraction of a month that the return is late, up to a maximum of 50%.

Q: Is there a minimum tax liability?A: Yes, there is a minimum tax liability of $100 for each company subject to insurance premium taxes and fees.

Q: Can I file Form DR-908 electronically?A: Yes, you can file Form DR-908 electronically through the Florida Department of Revenue's e-Services portal.

Q: What supporting documentation do I need to include with Form DR-908?A: You need to include a copy of the federal income tax return filed with the Internal Revenue Service, along with any applicable schedules and attachments.