The 50% prepayment of Insurance Premiums Tax that certain taxpayers must pay for 2020 is due no later than June 1, 2020. This due date has not been extended.
Taxpayers subject to the Insurance Premiums Tax, are required to remit “an amount equal to one-half of the tax payable under subsection (a) hereof on the company's business done during the preceding calendar year” no later than June 1, according to N.J.S.A. 54:18A-1(b),(c).
As a result of circumstances arising from the COVID-19 Pandemic, we are not issuing Notices of Adjustment to businesses confirming the amount of prepayment. Taxpayers must remit their prepayment amount as calculated from their 2019 Insurance Premiums Tax return DEXM, DEM, EXM or EM that had a due date of March 1, 2020.
If paying by EFT or by E-check, visit our Online Payment Service.
If paying by check, complete the Insurance Premiums Tax payment voucher, Form IPT-V , and include it with your payment. Make your check payable to State of New Jersey – INSURE.
If you have questions about paying by EFT, please contact the Division of Revenue and Enterprise Services EFT Unit at 609-292-9292, Option #6.