New Hampshire Revised Statutes 400-A:32 – Premium Tax; Collection, Minimum, Penalty, and Prepayments
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I. (a) Every insurer shall pay to the insurance commissioner a tax upon such net premiums, for lines of business written, as set forth in the report filed pursuant to N.H. Rev. Stat. § 400-A:31, I, less estimated payments made in accordance with N.H. Rev. Stat. § 400-A:32, II, as follows:
(1) Effective July 1, 2007, a tax of 1.75 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, I-III and V-VIII, N.H. Rev. Stat. § 416-A:2, and N.H. Rev. Stat. § 401:1-a, I and II;
(2) Effective January 1, 2009, a tax of 1.50 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, I-III and V-VIII, N.H. Rev. Stat. § 416-A:2, and N.H. Rev. Stat. § 401:1-a, I and II;
(3) Effective January 1, 2010, a tax of 1.25 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, I-III and V-VIII, N.H. Rev. Stat. § 416-A:2, and N.H. Rev. Stat. § 401:1-a, I and II; and
(4) A tax of 2 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, IV, including, but not limited to, insurers licensed pursuant to RSA 420-A, RSA 420-B, and RSA 420-F.
(b) Provided, however, that every authorized insurer shall pay to the insurance commissioner a minimum annual premium tax of no less than $200.
II. (a) For the calendar year ending December 31, 2006, on or before March 15, June 15, September 15, and December 15, every authorized insurer required to pay a tax in accordance with N.H. Rev. Stat. § 400-A:32, I shall pay to the insurance commissioner an amount equal to
1/4 of the previous calendar year’s tax paid pursuant to said paragraph; provided, however, any authorized insurer having an estimated liability of $100 or less for each quarter shall make payment in full on March 15. These payments shall be considered as a partial payment of the tax upon the business done in the state during the calendar year in which the payment was received.
(b) For the calendar year ending December 31, 2007, and for every year thereafter, on or before March 15 of each year every authorized insurer required to pay a tax in accordance with N.H. Rev. Stat. § 400-A:32, I shall make payment in full to the insurance commissioner of an amount equal to 100 percent of the previous calendar year’s taxes paid pursuant to said paragraph. The payments shall be considered as a partial payment of the tax upon the business done in the state during the calendar year in which the payment was received.
III. (a) Except as provided in subparagraphs (b) and (c), the taxes imposed in paragraphs I and II of this section shall be promptly forwarded by the commissioner to the state treasurer for deposit to the general fund.
(b) Taxes imposed attributable to premiums written for medical and other medical related services for the newly eligible Medicaid population as provided for under N.H. Rev. Stat. Chapter 126-AA shall be deposited into the New Hampshire granite advantage health care trust fund established in N.H. Rev. Stat. § 126-AA:3. The commissioner shall notify the state treasurer of sums for deposit into the New Hampshire granite advantage health care trust fund no later than 30 days after receipt of said taxes. The moneys in the trust fund may be used for the administration of the New Hampshire granite advantage health care program, established in RSA 126-AA.
(c) Taxes imposed on premiums written by duly authorized insurance companies for family and medical leave insurance written in connection with the administration of N.H. Rev. Stat. § 21-I:99 through N.H. Rev. Stat. § 21-I:111 or N.H. Rev. Stat. Chapter 282-B shall be deposited into the FMLI premium stabilization trust fund established in N.H. Rev. Stat. § 282-B:5. The commissioner shall notify the state treasurer of sums for deposit into the FMLI premium stabilization trust fund no later than 30 days after receipt of said taxes.
IV. Any insurer failing to file the report required by N.H. Rev. Stat. § 400-A:31 or failing to remit the proper tax within the time for filing shall pay a penalty contingent upon the number of days that have passed since the due date. For late payments received 1-30 days after the due date, the penalty fee shall be 3 percent of the amount of the tax due. For late payments received 31-60 days after the due date, the penalty fee shall be 6 percent of the amount of tax due. For late payments received more than 60 days after the due date, the penalty fee shall be 12 percent of the amount of tax due. If the tax or the estimated tax is not paid when due, the commissioner may suspend or revoke the insurer’s certificate of authority.
V. If the insurer liable for the taxes imposed in paragraphs I and II of this section is a member of a unitary business within the meaning of N.H. Rev. Stat. § 77-A:1, XIV, then the entire amount of the taxes due under this chapter by the individual member of such unitary business shall be allowed as a credit pursuant to N.H. Rev. Stat. § 77-A:5, III, against such individual member’s portion of the total tax liability of the unitary business under RSA 77-A. In the event that the individual member’s credit exceeds such member’s portion of the total tax liability of the unitary business, the excess of such credit shall be allowed as a credit against any other individual member’s tax liability under RSA 77-A, provided such other member is also subject to the tax imposed by this chapter. The commissioner of revenue administration shall adopt rules, in accordance with RSA 541-A, to determine an individual member’s portion of the total tax liability based upon each member’s activity within New Hampshire.
(1) Effective July 1, 2007, a tax of 1.75 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, I-III and V-VIII, N.H. Rev. Stat. § 416-A:2, and N.H. Rev. Stat. § 401:1-a, I and II;
Terms Used In New Hampshire Revised Statutes 400-A:32
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(2) Effective January 1, 2009, a tax of 1.50 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, I-III and V-VIII, N.H. Rev. Stat. § 416-A:2, and N.H. Rev. Stat. § 401:1-a, I and II;
(3) Effective January 1, 2010, a tax of 1.25 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, I-III and V-VIII, N.H. Rev. Stat. § 416-A:2, and N.H. Rev. Stat. § 401:1-a, I and II; and
(4) A tax of 2 percent for all lines of business written pursuant to N.H. Rev. Stat. § 401:1, IV, including, but not limited to, insurers licensed pursuant to RSA 420-A, RSA 420-B, and RSA 420-F.
(b) Provided, however, that every authorized insurer shall pay to the insurance commissioner a minimum annual premium tax of no less than $200.
II. (a) For the calendar year ending December 31, 2006, on or before March 15, June 15, September 15, and December 15, every authorized insurer required to pay a tax in accordance with N.H. Rev. Stat. § 400-A:32, I shall pay to the insurance commissioner an amount equal to
1/4 of the previous calendar year’s tax paid pursuant to said paragraph; provided, however, any authorized insurer having an estimated liability of $100 or less for each quarter shall make payment in full on March 15. These payments shall be considered as a partial payment of the tax upon the business done in the state during the calendar year in which the payment was received.
(b) For the calendar year ending December 31, 2007, and for every year thereafter, on or before March 15 of each year every authorized insurer required to pay a tax in accordance with N.H. Rev. Stat. § 400-A:32, I shall make payment in full to the insurance commissioner of an amount equal to 100 percent of the previous calendar year’s taxes paid pursuant to said paragraph. The payments shall be considered as a partial payment of the tax upon the business done in the state during the calendar year in which the payment was received.
III. (a) Except as provided in subparagraphs (b) and (c), the taxes imposed in paragraphs I and II of this section shall be promptly forwarded by the commissioner to the state treasurer for deposit to the general fund.
(b) Taxes imposed attributable to premiums written for medical and other medical related services for the newly eligible Medicaid population as provided for under N.H. Rev. Stat. Chapter 126-AA shall be deposited into the New Hampshire granite advantage health care trust fund established in N.H. Rev. Stat. § 126-AA:3. The commissioner shall notify the state treasurer of sums for deposit into the New Hampshire granite advantage health care trust fund no later than 30 days after receipt of said taxes. The moneys in the trust fund may be used for the administration of the New Hampshire granite advantage health care program, established in RSA 126-AA.
(c) Taxes imposed on premiums written by duly authorized insurance companies for family and medical leave insurance written in connection with the administration of N.H. Rev. Stat. § 21-I:99 through N.H. Rev. Stat. § 21-I:111 or N.H. Rev. Stat. Chapter 282-B shall be deposited into the FMLI premium stabilization trust fund established in N.H. Rev. Stat. § 282-B:5. The commissioner shall notify the state treasurer of sums for deposit into the FMLI premium stabilization trust fund no later than 30 days after receipt of said taxes.
IV. Any insurer failing to file the report required by N.H. Rev. Stat. § 400-A:31 or failing to remit the proper tax within the time for filing shall pay a penalty contingent upon the number of days that have passed since the due date. For late payments received 1-30 days after the due date, the penalty fee shall be 3 percent of the amount of the tax due. For late payments received 31-60 days after the due date, the penalty fee shall be 6 percent of the amount of tax due. For late payments received more than 60 days after the due date, the penalty fee shall be 12 percent of the amount of tax due. If the tax or the estimated tax is not paid when due, the commissioner may suspend or revoke the insurer’s certificate of authority.
V. If the insurer liable for the taxes imposed in paragraphs I and II of this section is a member of a unitary business within the meaning of N.H. Rev. Stat. § 77-A:1, XIV, then the entire amount of the taxes due under this chapter by the individual member of such unitary business shall be allowed as a credit pursuant to N.H. Rev. Stat. § 77-A:5, III, against such individual member’s portion of the total tax liability of the unitary business under RSA 77-A. In the event that the individual member’s credit exceeds such member’s portion of the total tax liability of the unitary business, the excess of such credit shall be allowed as a credit against any other individual member’s tax liability under RSA 77-A, provided such other member is also subject to the tax imposed by this chapter. The commissioner of revenue administration shall adopt rules, in accordance with RSA 541-A, to determine an individual member’s portion of the total tax liability based upon each member’s activity within New Hampshire.