Home
Forms Library
Minnesota Form IG260 (Nonadmitted Insurance Premium

Minnesota Form IG260 (Nonadmitted Insurance Premium 2025

Minnesota Form IG260 (Nonadmitted Insurance Premium Preview on Page 1

See details

4.8 out of 5

36 votes

The document is the 2024 IG260 Nonadmitted Insurance Premium Tax Return for Surplus Lines Brokers, which outlines the requirements for surplus lines brokers in Minnesota to report and pay taxes on nonadmitted insurance premiums. It includes instructions for filing, due dates, payment methods, and penalties for late submissions. The form must be completed even if there is no tax liability, and it requires specific information about premiums, fees, and commissions.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Minnesota Form IG260 (Nonadmitted Insurance Premium with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the Minnesota Form IG260 in the editor.
Begin by filling out the top section, including your name as the Surplus Lines Broker, agency name, and license number. Ensure you check if this is an amended return or a no activity return.
Enter your mailing address, Minnesota Tax ID number, and contact information. Remember that the Minnesota Tax ID is required for submission.
Proceed to page 2 of the form. Fill in details for each policy under columns A through J, ensuring accuracy in reporting premiums and fees.
Return to page 1 and calculate your total amounts due or overpaid based on the figures from page 2. Make sure to double-check your calculations.
Finally, sign and date the form before submitting it electronically or via mail to ensure compliance with Minnesota tax regulations.

Start using our platform today for free to streamline your form completion process!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do I need to file a 1099 with the state of Minnesota?

Yes, you must file 1099 forms with the Minnesota state only if there is a state tax withheld.

What is the nonadmitted insurance tax?

Non-admitted insurance companies are insurers that are not licensed or admitted to conduct insurance business in California. Surplus line brokers also pay an insurance tax of three percent (3.00%). For more information about taxes on insurers, please contact the CDI at 1-800-927-4357 or visit .insurance.ca.gov/.

Who is exempt from Minnesota income tax?

You do not need to pay Minnesota income tax if either of these apply: You are a full-year Minnesota resident who is not required to file a federal income tax return. You are a part-year resident or nonresident whose Minnesota gross income is below the minimum filing requirement ($14,575 for 2024).

Do I have to pay taxes on inheritance in Minnesota?

Inheritance tax is a tax on what beneficiaries of an estate inherit. Minnesota does not have an inheritance tax. If the estate meets the filing requirements, it may need to pay tax to the following: The IRS.

What is the most money you can inherit without paying taxes?

In 2025, the first $13,990,000 of an estate is exempt from federal estate taxes, up from $13,610,000 in 2024. Estate taxes are based on the size of the estate. Its a progressive tax, just like the federal income tax system. This means that the larger the estate, the higher the tax rate it is subject to.

What is the most you can inherit without paying taxes?

Theres normally no Inheritance Tax to pay if either: the value of your estate is below the 325,000 threshold. you leave everything above the 325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club.

How much can you inherit in MN without paying taxes?

Does Minnesota have an estate tax? Yes. $3,000,000 of your estate is excluded from estate tax. However, money above and beyond $3,000,000 is taxed at between 13% and 16%.

How much money can you gift someone tax free in MN?

While Minnesota doesnt currently have a gift tax, the federal government does. However, you get to make gifts valued at up to a set limit ($19,000 in 2025 and $18,000 in 2024) to any number of individuals without worrying about gift taxes.

Minnesota Form IG260 (Nonadmitted Insurance Premium 2025

Here's how it works

How to use or fill out Minnesota Form IG260 (Nonadmitted Insurance Premium with our platform

Complete this form in 5 minutes or less

Got questions?

Do I need to file a 1099 with the state of Minnesota?

What is the nonadmitted insurance tax?

Who is exempt from Minnesota income tax?

Do I have to pay taxes on inheritance in Minnesota?

What is the most money you can inherit without paying taxes?

People also ask

What is the most you can inherit without paying taxes?

How much can you inherit in MN without paying taxes?

How much money can you gift someone tax free in MN?

Try more PDF tools

Minnesota Form IG260 (Nonadmitted Insurance Premium 2025

Here's how it works

How to use or fill out Minnesota Form IG260 (Nonadmitted Insurance Premium with our platform

Complete this form in 5 minutes or less

Got questions?

Do I need to file a 1099 with the state of Minnesota?

What is the nonadmitted insurance tax?

Who is exempt from Minnesota income tax?

Do I have to pay taxes on inheritance in Minnesota?

What is the most money you can inherit without paying taxes?

Related Searches

People also ask

What is the most you can inherit without paying taxes?

How much can you inherit in MN without paying taxes?

How much money can you gift someone tax free in MN?

Try more PDF tools