Official Site of The State of New Jersey

Notice: Insurance Premiums Tax 50% Prepayment due June 1, 2021

The 50% prepayment of Insurance Premiums Tax that certain taxpayers must pay, is due no later than June 1, 2021.

Taxpayers subject to the Insurance Premiums Tax, are required to remit "an amount equal to one-half of the tax payable under subsection (a) hereof on the company's business done during the preceding calendar year" no later than June 1, according to N.J.S.A. 54:18A-1(b), (c).

The Division of Taxation is issuing Notices of Adjustment to businesses, confirming the amount of prepayment due.

As a result of social distancing restrictions arising from the COVID-19 Pandemic, and many taxpayers employees working from home without immediate access to work mail, taxpayers may remit their 50% prepayment amount due June 1, as calculated from their 2020 DEXM, DEM, EXM or EM Insurance Premiums Tax return that had a due date of March 1, 2021.

If paying by EFT or by E-check, visit our Online Payment Service.

If paying by check, complete the Insurance Premiums Tax payment voucher 2020-Form IPT-V , and include it with your payment. Make your check payable to State of New Jersey – INSURE.

If you have questions about paying by EFT, please contact the Division of Revenue and Enterprise Services EFT Unit at 609-292-9292, Option #6.