Insured FAQ
I'm tax-exempt. Do I still have to pay surplus line taxes and fees?
Yes. By saying you are tax-exempt, you probably mean you are a
nonprofit or charitable organization and have one or both of the
following: (1) an exemption from Illinois Retailers' Occupation
Tax -- commonly referred to as sales tax; (2) A Federal Income Tax exemption.
These exemptions are only for the taxes to which they specifically refer and offer you
no relief from Surplus Line Tax, Fire Marshal Tax or
Association Stamping Fees.
Disclaimer
The materials and information contained herein are only synopses of laws, regulations
and other information and do not constitute
legal advice. It is recommended that you consult your legal advisers regarding
application of the Illinois surplus line laws and regulations to any particular
situation. The Surplus Line Association does not undertake and hereby
disclaims any obligation to advise you of any change to the Illinois surplus
line laws and regulations or the procedures of the Surplus Line Association.
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