Section 3-325 - Report of premium receipts and payment of tax. - Maryland Statutes

§ 3-325. Report of premium receipts and payment of tax.
 

(a)  In general.- On or before March 15 and September 15 of each year, each surplus lines broker shall: 

(1) file with the Commissioner a semiannual statement that reports on business subject to tax during the preceding half calendar year; and 

(2) pay to the Commissioner the total amount of tax imposed by § 3-324 of this subtitle and appearing on the semiannual statement filed under this section. 

(b)  Form and contents of report.- The semiannual statement shall be verified in the manner that the Commissioner requires and contain the following information: 

(1) the gross amount of each kind of insurance business transacted and the total gross premiums charged; 

(2) the total returned premiums and taxes paid to insureds; 

(3) the total net premiums; and 

(4) any additional information that the Commissioner reasonably requires. 

(c)  Open to public inspection.- Each semiannual statement shall be open to public inspection. 

(d)  Credit for examination expenses.- A surplus lines broker may credit any examination expense paid or assessed under § 2-208 of this article against the premium receipts tax due. 

(e)  Application of Title 6, Subtitle 1.- With respect to a penalty that has become final, a surplus lines broker is subject to the provisions of Title 6, Subtitle 1 of this article relating to penalties, interest, audits, assessments, limitations, appeals, and refunds. 
 

[An. Code 1957, art. 48A, § 195; 1995, ch. 36; 1996, ch. 60; 1998, ch. 751.]