When are premium taxes due for surplus lines insurers?

Premium taxes for surplus lines insurers in Washington state are due annually by March 1st. This deadline is established to ensure that surplus lines insurers report and pay their taxes in a timely manner after the end of the calendar year. By setting the due date for March 1st, insurers have a clear timeframe to compile their records and calculate the taxes owed based on the premiums written during the previous year. The annual assessment helps streamline the tax collection process and allows both insurers and the state to manage their financial and reporting obligations effectively.

Understanding this due date is crucial for surplus lines insurers to maintain compliance and avoid potential penalties that could arise from late payments.