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Home > Programs and Services > Shared Solutions > Collection Programs > ITCP Reporting Instructions

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Staff contacts:
Gail Hampton
Melissa Brown
Susan Funderburk

 

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ITCP Reporting Instructions

All companies licensed/registered with the South Carolina Department of Insurance to do business within the state of South Carolina are required to file and pay a municipal license tax with the Municipal Association of South Carolina. A municipal worksheet is due to the Association no later than March 1, 2012.

Payments for municipal license taxes are due by May 31, 2012. Any payment received after May 31 is subject to a 5 percent monthly penalty.

The Municipal Association of South Carolina will only accept breakout of premiums if provided on the Association’s municipality worksheet, in an excel spreadsheet (MS Excel 97 or higher version) or in a CSV file.

We do not accept a breakout of premiums provided in any other format, including an “in-house” generated report.

NOTE: There are a total of 265 municipalities listed on the 2012 municipality worksheet. There are no new participating municipalities. James Island is no longer an incorporated municipality; therefore, no longer a program participant.

 

Municipality Worksheet Reporting Instructions:

  • Make certain the premiums you are reporting for municipalities do not include annuities, multiple peril crop, or workers' compensation premiums. These premiums are nontaxable.

  • Rates:        
    • Property & Casualty - 2%
      (exception – Greenville  2.75%)
    • Title - 2%
      (exception – Greenville  2.75%)
    • Life, Accident & Health - .75% 
      (exceptions –       1% –   Myrtle Beach; 2% –   Aiken, Conway, Goose Creek, Jonesville, Mount Pleasant, North Augusta, Orangeburg and Summerville)

  • Negative premiums.  If the premiums for a particular municipality are negative, report the negative premiums.  The tax should be zero.

  • Reconciliation Report.  If the total premiums reported on the worksheet does not match the total statewide taxable premiums reported to the SC Department of Insurance, provide an explanation of the difference including a listing of the nonreported areas along with the associated premiums. The total from both lists must equal the total statewide taxable premiums reported to the SC Department of Insurance on the Fee and Tax Return (Premium Tax Return).

  • Agent Confirmation. Companies that do not report/pay on 100 percent of taxable premiums must include a confirmation that the agents that produced/serviced the premiums listed on the reconciliation report are not located within a participating municipality.

  • If there has been a significant change in your premiums writing location, send an explanation of the change.  Example: Your company acquired another company or has stopped writing a line of business.

  • Certification Statement.  If filing the municipality worksheet electronically, a certification statement must be completed and returned.

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Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299, mail@masc.sc