COVID-19 State of Emergency – Quarterly premium tax due April 15, 2020

MIA BULLETIN 20-19 TO: INSURERS SUBJECT TO QUARTERLY ESTIMATED PREMIUM TAX PAYMENTS SUBJECT: COVID-19 EMERGENCY / QUARTERLY PREMIUM TAX DUE APRIL 15, 2020 AND JUNE 15, 2020 (UPDATED) DATE: June 8, 2020 The purpose of this bulletin is to address late payments of the quarterly estimated premium tax due April 15, 2020 and June 15, 2020 during the covid-19 health emergency. Background: Maryland Governor Hogan declared a state of emergency due to the covid-19 virus on March 5, 2020. The President of the United States declared a national emergency due to the covid-19 virus on March 13, 2020. Some insurance companies have been required to significantly amend their operations to support social distancing in an effort to prevent the spread of the covid-19 virus. Quarterly estimated premium tax payments: The Commissioner does not have the authority to amend premium tax payment due dates. The due date for the payment of quarterly estimated premium taxes is still April 15, 2020 and June 15, 2020. Penalties/interest on late payment of quarterly estimated premium taxes due April 15: The Commissioner will exercise her discretion to waive penalties and interest for the late payment of quarterly estimated premium taxes due on April 15, 2020 and June 15, 2020 if an insurance company is unable to make such payment timely because the covid-19 pandemic has impacted the operation of the company’s premium tax administrative offices. Insurance companies should be prepared to submit documentation of such impact at the request of the Commissioner. KATHLEEN A. BIRRANE Commissioner JAY COON Deputy Commissioner LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 Direct Dial: 410-468-2007 Fax: 410-468-2020 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov Such waiver of penalties and interest will be effective through September 1, 2020, unless amended by a subsequent bulletin. This general waiver does not extend to any other quarterly estimated premium tax payment due date or other premium tax obligations. Contact: Questions on this bulletin should be emailed to Philip Ermer, Executive Director, Premium Tax and Company Licensing: philip.ermer@maryland.gov.