Instructions for Form T-71 Insurance Companies Tax Return of Gross Premiums - Rhode Island

Form T-71 Insurance Companies Tax Return of Gross Premiums - Rhode Island

This document contains official instructions for Form T-71 , Insurance Companies Tax Return of Gross Premiums - a form released and collected by the Rhode Island Department of Revenue - Division of Taxation. An up-to-date fillable Form T-71 is available for download through this link.

FAQ

Q: What is Form T-71?A: Form T-71 is the Insurance Companies Tax Return of Gross Premiums for Rhode Island.

Q: Who needs to file Form T-71?A: Insurance companies operating in Rhode Island need to file Form T-71.

Q: What is the purpose of Form T-71?A: Form T-71 is used to report gross premiums received by insurance companies in Rhode Island and calculate the tax owed.

Q: How often is Form T-71 filed?A: Form T-71 is filed annually.

Q: What information is required on Form T-71?A: Form T-71 requires information such as gross premiums received, deductions, and calculation of tax liability.

Q: When is Form T-71 due?A: Form T-71 is due on or before March 15th following the tax year.

Q: Are there any penalties for not filing Form T-71?A: Yes, failure to file Form T-71 or pay the tax owed by the due date may result in penalties and interest.

Q: Is there any extension available for filing Form T-71?A: Yes, a six-month extension to file Form T-71 can be requested, but the tax liability must still be paid by the original due date.