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TIP # 02B8-01
DATE ISSUED: 06/12/02

INSURANCE PREMIUM TAX CHANGE IN THE ACCRUAL OF INTEREST ON REQUESTED REFUNDS EFFECTIVE FOR TAX YEARS ENDING ON OR AFTER DECEMBER 31, 2001

A change in the accrual of interest on requested refunds of insurance premium tax became law on May 1, 2002.

Interest on completed requests for insurance premium tax refunds will start to accrue at the later of:

  1. Ninety (90) days from the date of receipt by the Department of Revenue (DOR) of a complete request for refund submitted on the Insurance Premium Taxes and Fees Return (DR-908), or
  2. The August 1st immediately following the March 1st due date of the DR-908.

For calendar year 2001, interest will start to accrue on requests for refunds of insurance premium tax (DR-908) beginning August 1, 2002. Interest will start to accrue 90 days from the date of receipt by DOR of a completed request for refund (DR-908), if the end of the 90 day period is later than August 1, 2002.

References: Sections 213.255(4), and 624.511(2), Florida Statutes [Section 35, CS/SB 426, Chapter 2002-218, Laws of Florida]



FOR MORE INFORMATION

This document is intended to alert you to the requirements contained in Florida laws and administrative rules. It does not by its own effect create rights or require compliance.

For forms and other information, visit our site at www.myflorida.com/dor. Or call Taxpayer Services, Monday through Friday, 8:00 a.m., to 7:00 p.m., ET, at 800-352-3671 (for Florida residents only), or 850-488-6800

Hearing- or speech-impaired persons should call our TDD at 1-800-367-8331 or 850-922-1115.

For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, 1379 Blountstown Highway, Tallahassee, FL 32304-2716.

To receive a fax copy of a form, call 850-922-3676 from your fax machine telephone.