Instructions for Form RCT-123 Gross Premiums Tax - Surplus Lines Agents - Pennsylvania

Form RCT-123 Gross Premiums Tax Report - Surplus Lines Agents - Pennsylvania

This document contains official instructions for Form RCT-123 , Gross Surplus Lines Agents - a form released and collected by the Pennsylvania Department of Revenue. An up-to-date fillable Form RCT-123 is available for download through this link.

FAQ

Q: What is Form RCT-123?
A: Form RCT-123 is a tax form for surplus lines agents in Pennsylvania.

Q: Who needs to file Form RCT-123?
A: Surplus lines agents in Pennsylvania need to file Form RCT-123.

Q: What is the purpose of Form RCT-123?
A: Form RCT-123 is used to report and pay the Gross Premiums Tax for surplus lines agents.

Q: What is the Gross Premiums Tax?
A: The Gross Premiums Tax is a tax on the premiums collected by surplus lines agents.

Q: How often do I need to file Form RCT-123?
A: Form RCT-123 needs to be filed annually by March 1st.

Q: Are there any penalties for late filing or non-filing?
A: Yes, there are penalties for late filing or non-filing of Form RCT-123. It is important to file on time to avoid penalties.

Q: What information do I need to complete Form RCT-123?
A: You will need information about the premiums collected, deductions, and any tax paid for the reporting period.

Q: Can I file Form RCT-123 electronically?
A: Yes, you can file Form RCT-123 electronically through the Pennsylvania Department of Revenue's e-Services.

Q: Are there any other requirements or forms related to the Gross Premiums Tax?
A: Yes, surplus lines agents may also need to file Schedule GLP and Form RCT-123A. Check the instructions for more information.