Instructions for Form 63-20P Premium Excise Return for Life Insurance Companies - Massachusetts

Form 63-20P Premium Excise Return for Life Insurance Companies - Massachusetts

This document contains official instructions for Form 63-20P , Premium Excise Return for Life Insurance Companies - a form released and collected by the Massachusetts Department of Revenue. An up-to-date fillable Form 63-20P is available for download through this link.

FAQ

Q: What is Form 63-20P?
A: Form 63-20P is the Premium Excise Return for Life Insurance Companies in Massachusetts.

Q: Who needs to file Form 63-20P?
A: Life insurance companies operating in Massachusetts need to file Form 63-20P.

Q: What is the purpose of Form 63-20P?
A: Form 63-20P is used to report and calculate the premium excise tax for life insurance companies in Massachusetts.

Q: When is Form 63-20P due?
A: Form 63-20P is due on or before March 15th of each year.

Q: Are there any penalties for late or incorrect filing?
A: Yes, there are penalties for late or incorrect filing, including interest charges and potential legal actions.

Q: Are there any exemptions to filing Form 63-20P?
A: Certain life insurance companies may be exempt from filing Form 63-20P. It is recommended to consult with a tax professional or the Massachusetts Department of Revenue for specific exemptions.

Q: What supporting documentation do I need to include with Form 63-20P?
A: You may need to include supporting schedules and other documentation to accurately calculate the premium excise tax. Refer to the instructions provided with Form 63-20P for more details.