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Insurance Premium Tax

The Insurance Premium Tax is paid by domestic and foreign insurance companies doing business in Vermont. The tax is computed annually on premiums written (or premiums collected for life insurance companies). Quarterly estimates must be paid based on business during the quarter or estimated based on the prior year’s income.

How to File

Mandate for Electronic Filing of Returns

Filing the Vermont Insurance Premium Tax online through myVTax has been mandated by the Commissioner of Taxes. Taxpayers may file returns and pay tax due using myVTax, our free, secure, online filing site. If you have questions, contact our Insurance Premium Tax and Captive Insurance Premium Tax examiner at (802) 828-2551.

Estimated Payments

We strongly encourage you to use myVTax to make your estimated payments. You can make an estimated payment using ACH debit without logging into your account.

  1. Select Make A Payment under the Payments section on the left side of the web page.

  2. Choose your payment type and select Insurance Premium as the account type under the identifying information screen.

  3. Select Estimated Payment on the payment details screen.

Be sure to enter the period date as December 31. Insurance premium payments will always have the year-end date, not the quarter-end date, not the due date, not the payment date.

Insurance Premium Tax Forms and Guidance

myVTax Instructions

Title Revised Number
myVTax Guide: How to Make an e-Payment on an Established Business Account 2020 GB-1208
myVTax Guide: How to Make an e-Payment Without a myVTax Account 2020 GB-1135

Tax Forms and Instructions

Form Number Instructions Title Revised
IPT-632 File using myVTax Estimate of Insurance Premium Tax 2022

Fact Sheets and Guidance

Title Revised Number
For Employers: Health Care Fund Contribution Assessment 2021 FS-1144
Guide to the Health Care Fund Contribution Assessment 2020 GB-1158
Vermont Department of Taxes ACH Credit Payment Guide 2023 GB-1104

Filing Due Dates

Tax Period Ending Due Date Submit
12/31/2023 2/29/2024 Annual Filing

Estimates for the Insurance Premium Tax are filed on the last day of May, August, and November. The final payment is due with the return. The return, with final reconciliation and payment, is due on the last day of February.

Tax Period Ending Due Date Submit
12/31/2024 5/31/2024 First Estimated Payment
12/31/2024 8/31/2024 Second Estimated Payment
12/31/2024 11/30/2024 Third Estimated Payment

Statutes, Rules, and Regulations

Title Section
Insurance Companies 32 V.S.A. Chapter 211, Subchapter 7