ILLINOIS STAMPING FEE CHANGE EFFECTIVE 1.1.18

Policy Effective Date Stamping Fee Rate*
01/01/2018 & Thereafter 0.125% or (.00125)
01/01/2015 – 12/31/2017 0.2% or (.002)
07/01/2006 – 12/31/2014 0.1% or (.001)
01/01/1995 – 06/30/2006 0.3% or (.003)
01/01/1988 – 12/31/1994 0.1% or (.001)
08/01/1986 – 12/31/1987 0.2% or (.002)
07/01/1985 – 07/31/1986 0.5% or (.005)
Prior to 07/01/1985 No Stamping Fee Assessed

MINNESOTA STAMPING FEE REDUCTION EFFECTIVE 10.1.2016

STAMPING FEE RATE REDUCTION

The stamping fee rate for Minnesota will be reduced from .06% to .04% effective October 1, 2016.  For ALL transactions effective on or after 10/1/2016, the rate of .04% of the policy premium will apply.  This applies to all transaction types regardless of the original policy effective date. 

For example, if a new policy was effective 6/1/2016, the .06% rate would apply to the premium generated at inception.  If that policy was endorsed or cancelled with an effective date on or after 10/1/2016, the reduced rate of .04% would apply to the premium generated from the endorsement or cancellation.  This applies to additional and/or return premium. 

 

LOUISIANA NIMA WITHDRAWAL – STAMPING FEE DECREASE EFFECTIVE 10.1.2015

Effective October 1, 2015, Louisiana has withdrawn from the Non-Admitted insurance Multistate Agreement (NIMA). Please see Bulletin 2015-06. Surplus lines producers will no longer file multistate policies with the NIMA Clearinghouse for policies effective after September 30, 2015. Louisiana will tax all surplus line policies where Louisiana is the home state at the new rate of 4.85 percent.