Insurance Premium Tax and Self-Insured Group Tax Programs

The Taxation and Revenue Department is committed to offering taxpayers the support needed to comply with their insurance premium tax and self-insured group tax obligations.

Who Must File

Every taxpayer, insurer, and surplus lines broker subject to the provisions of the Insurance Premium Tax Act shall pay any applicable fees and charges as are required under the Insurance Code.

Companies that have written zero premiums are still required to file both quarterly and annual premium tax returns. Lines of business may not be combined on a single return. Premium tax returns must be submitted for each line of business in which the company is licensed to transact business.

The Self-Insured Group Tax pursuant to Section 7-40-3(G) NMSA 1978 is due by any self-insured group that has premiums derived from standard premium adjusted by any advance premium discount as defined in the Group-Self Insurance Act (Chapter 52 Article 6).

The Self-Procured Premium Tax pursuant to Section 7-40- 3(A) NMSA 1978 is due by each insured who in this state procures or continues or renews insurance with a non-admitted insurer on a risk located or to be performed in whole or in part in this state, other than insurance procured through surplus lines as defined in the Group-Self Insurance Act (Chapter 52 Article 6).

Important Reminders

These programs have an electronic file (e-file) mandate. If for some reason you are unable to file the return electronically through the Taxpayer Access Point (TAP), you may request a waiver or exception for e-filing using the Forms RPD-41351, E-File Waiver Request Form or RPD-41350, E-File Exception Request Form.

If you need immediate assistance, please send an email to INSPremium.Outreach@state.nm.us.

For details on the methods of payments that the department accepts, please review publication FYI-401 for detailed instructions. The FYI-401 is available in the publications folder on the Forms & Publications page.