NY| Bulletin No. 2025-07 from ELANY regarding the 2024 Premium Tax Statements for excess line brokers, announces that the 2024 ELANY reports, necessary for completing the Premium Tax Statement, have been posted electronically and are being mailed to brokers who opted for physical copies. The bulletin emphasizes the importance of filing the tax return electronically through the NYS Department of Financial Services Portal by March 17, 2025, even if no business was conducted under the license.
Key points:
- All licensed excess line brokers must file their tax returns electronically by March 17, 2025, with potential penalties of up to $500 for failure to file.
- ELANY provides an instructional video on their website to assist brokers in completing their Premium Tax Statements.