Annual Report on Revenues and Expenditures of Foreign Fire Insurance Premiums. Fire companies, fire departments and benevolent associations which receive and use foreign fire insurance tax proceeds (commonly referred to as "two percent tax m 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the name of your entity, fire district number (if known), county, and address in the designated fields.
  3. Select the type of organization you represent: Fire Department, Fire Company, or Benevolent Association.
  4. Fill in the town or city where your organization is located, along with any applicable village or fire protection district information.
  5. Input your balance as of January 1, 2020, followed by detailing revenues from foreign fire insurance premiums. List each source separately with corresponding amounts.
  6. Include any interest earned from investments related to foreign fire insurance proceeds.
  7. Calculate total revenues and total balance by summing up all entries made.
  8. Document expenditures clearly stating their purpose. If necessary, add a separate sheet for additional details.
  9. Finalize by certifying the report with your signature, title, printed name, telephone number, and email address.

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Foreign and alien stock and mutual insurance companies authorized to transact fire insurance business in New York State are required to pay an annual fire insurance premium tax of 2% on premiums written on property located in the State for any insurance against loss or damage by fire.
The foreign fire insurance tax is a 2% tax on insurance companies, not incorporated under the laws of Illinois, that is engaged in placing fire insurance in the Village.
Question: What is the Foreign Fire Tax Program? Answer: The foreign fire tax program as set forth in New York Insurance Law 9104 and 9105 requires foreign and alien insurance companies to pay a 2% tax on premiums written for insurance against loss or damage by fire on property located in the State.

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People also ask

When a homeowner experiences a fire that results in a total loss of their home, they may receive an insurance payout based on the homes insured value. However, if the amount received exceeds the homeowners original purchase priceor basisin the home, the difference could be subject to taxation.
This fee, previously referred to as a foreign fire insurance tax, equals 2% of the fire portion of the insurance policy premium received from fire insurance upon property situated within an Illinois municipality or fire protection district.

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