INSTRUCTIONS: NEVADA ANNUAL INSURANCE PREMIUM TAX RETURN (Form IPT-R)

Nevada premium tax payments are submitted on an annual basis using the form discussed in this article. This document can be obtained from the website of the Nevada Department of Taxation.

Nevada Annual Insurance Premium Tax Return IPT-R Step 1: In the top right-hand corner, enter your tax identification number, federal ID, premium tax, retaliatory tax and total remittance.

Nevada Annual Insurance Premium Tax Return IPT-R Step 2: On line 1, enter your total premiums and consideration.

Nevada Annual Insurance Premium Tax Return IPT-R Step 3: On line 2, multiply line 1 by 3.5% and enter the resulting product. If a qualified risk retention group, multiply line 1 by 2% and enter the resulting product.

Nevada Annual Insurance Premium Tax Return IPT-R Step 4: On line 3a, if you qualify, calculate your home office credit as instructed.

Nevada Annual Insurance Premium Tax Return IPT-R Step 5: If qualified, enter the amount of ad valorem taxes paid on line 3b.

Nevada Annual Insurance Premium Tax Return IPT-R Step 6: Enter the maximum credit allowed on line 3c.

Nevada Annual Insurance Premium Tax Return IPT-R Step 7: Enter your allowable home office credits on line 3d.

Nevada Annual Insurance Premium Tax Return IPT-R Step 8: Subtract line 3d from line 2. Enter the resulting difference on line 4.

Nevada Annual Insurance Premium Tax Return IPT-R Step 9: Enter your life/health guaranty association offset on line 5.

Nevada Annual Insurance Premium Tax Return IPT-R Step 10: On line 6, enter your property/casualty guaranty association offset.

Nevada Annual Insurance Premium Tax Return IPT-R Step 11: On line 6A, enter the total overpayments applied from previous years.

Nevada Annual Insurance Premium Tax Return IPT-R Step 12: On line 6B, enter the total overpayments refunded by Nevada for the year specified.

Nevada Annual Insurance Premium Tax Return IPT-R Step 13: On line 7, enter your net premium tax due.

Nevada Annual Insurance Premium Tax Return IPT-R Step 14: If filing late, calculate your penalty and daily interest due on lines 8 and 9 as instructed.

Nevada Annual Insurance Premium Tax Return IPT-R Step 15: Add lines 7 through 9. Enter the resulting sum on line 10.

Nevada Annual Insurance Premium Tax Return IPT-R Step 16: Sign and print your name. Enter the date, your email address and telephone number.