Insurance Tax

[Iamkathleenj]

I noticed that our insurance policies now have a tax on them. Someone told me that now FL is able to charge tax on insurance. I didn't know anything about that and didn't get a notice. Can anyone advise if this is true?

Thank you.

[lady5563]

Can't speak on Florida but in NJ...no tax on insurance/protection.

Tax is only for storage rent and retail!

[lady5563]

After a quick Google search I found this.

There are eight insurance premium taxes and fees. These taxes and fees are paid by every authorized insurance company that issues policies covering risks in Florida. The Florida Office of Insurance Regulation (OIR) regulates the business of insurance in Florida. Insurers must register with OIR.

Are you seeing this tax charge to YOU, the company OR to your individual tenants?

[KrisinCali]

No tax in Calif, on either rent or insurance. All retail is taxed though.

[MamaDuke]

No tax in Calif, on either rent or insurance. All retail is taxed though.

And please don't tell CA that they don't tax storage or insurance! They'll be sure to jump right on it if they pay attention!

[KrisinCali]

And please don't tell CA that they don't tax storage or insurance! They'll be sure to jump right on it if they pay attention!

No Lie! *shhhhhhhhh*

[Iamkathleenj]

After a quick Google search I found this.

There are eight insurance premium taxes and fees. These taxes and fees are paid by every authorized insurance company that issues policies covering risks in Florida. The Florida Office of Insurance Regulation (OIR) regulates the business of insurance in Florida. Insurers must register with OIR.

Are you seeing this tax charge to YOU, the company OR to your individual tenants?

The company that is offering us insurance adds the tax, I am assuming in Sitelink, and is passed onto the customers.