All brokers conducting surplus lines business in South Carolina must pay a 2 percent business license tax to each participating municipality in which a risk is insured or in which the broker has an office.
Pay the tax online annually by January 31. Brokers writing zero premiums for the 2010 tax year are not required to file.
The Municipal Association has upgraded the software used for administering the Brokers Tax Collection Program. The new software requires the broker to update contact information, report premiums, pay taxes (if applicable) and upload a copy of the Yearly Broker Premium and Tax Return (Form 2001A) online. Form 2001A is the form you submit to the South Carolina Department of Insurance. You will have the ability to enter your premiums manually by municipality or upload the data in CSV format.
If your reporting is filed by an MGA, you will have the ability to add them as a user and provide login information.
Indicate your South Carolina broker’s license number on all correspondence with the Municipal Association.
2011 Tax Year Reporting and future years
The only method for reporting municipal premiums, paying the business license tax (if applicable) and updating contact information is online.
Instructions for accessing the broker system will be e-mailed to licensed brokers
To ensure you receive an e-mail containing login information to access the site; if you have not already, e-mail to us your email address at btcp@masc.sc. List your name in the subject line.
Reporting Form CSV File Format
File must be in ASCII, comma delimited format as follows: "Municipality","Premiums"
Descriptions:
- Municipality - name of the municipality in which the risk is located.
- Premiums - the amount of premiums for the municipality
Example:
"City A","$1,200.00"
"City B","$400,342.00"
The upload function requires the municipality’s name to appear exactly as it does in our software system.