TaxFormFinder
Maine Estimated Monthly Return, Fire Investigation & Prevention Tax
Tax day has passed, and refunds are being processed! You can still e-file a late tax return here 
with TurboTax
with TurboTax
Extracted from PDF file 2024-maine-ins-2.pdf, last modified November 2023Estimated Monthly Return, Fire Investigation & Prevention Tax
Clear 2024 Form INS-2 Print Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: January 31, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: February 29, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: April 1, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: April 30, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: May 31, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: July 1, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: July 31, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: September 3, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: September 30, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: October 31, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: December 2, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023 2024 Form INS-2 Maine Estimated Monthly Payment for Fire Investigation and Prevention Tax Due: December 31, 2024 99 *2331000* Note: Certain taxpayers with large annual tax liabilities are required to remit tax payments electronically. See MRS Rule 102 on the MRS website at www.maine.gov/revenue/publications/rules for details. Use the MTP to file and pay electronically at revenue.maine.gov and eliminate the necessity of filing Form INS-2. Company Federal EIN Address *Signature .00 Estimated Payment (see instructions below) Name/Title Telephone *Must be signed by President, Treasurer, Secretary, Chief Accounting Officer, or Attorney-in-Fact of a Reciprocal Insurer. Instructions Estimated Payment. Every fire insurance company or association that does business or collects premiums or assessments in Maine is required by statute to pay 1.4% of the gross direct premiums for fire risks written in Maine, less the amount of all direct return premiums and all dividends paid to policyholders on direct fire premiums. The tax must be paid on an estimated basis at the end of each month, with each installment equal to at least 1/12 of the estimated total tax to be paid for the current calendar year. Note: the fire investigation and prevention tax applies in addition to the insurance premiums tax (see forms INS-1 and INS-4). 25 M.R.S. § 2399 requires the Maine Bureau of Insurance to determine every 5 years the basis percentage of fire risk allocated to each line of insurance. The last determination was made in October 2023 and applies to tax periods beginning on or after January 1, 2024. Insurance companies and associations must calculate their estimated tax payment on the basis of the allocation rates below. Companies and associations may not calculate the tax on the basis of alternate ratios. Line of Business Percentage of Premiums allocated to fire (Form INS-5, line 1) (Form INS-5, line 1, column E) Line 1a. Fire ................................................... 100.00% Line 1b. Inland Marine ..................................... 20.68% Line 1c. Aircraft Physical Damage .................... Actual Line 1d. Auto – Private ...................................... 1.98% Line 1e. Auto – Commercial .............................. 8.07% Line 1f. Farmowners Multiple Peril ................. 47.36% Line 1g. Homeowners Multiple Peril ................ 39.81% Line 1h. Commercial Multiple Peril .................. 43.10% Line 1i. All Other Fire Related ...................... 100.00% Interest & Penalty. For calendar year 2024, the interest rate is 10%, compounded monthly. The penalty for failure to file a return on time is the greater of $25 or 10% of the tax due, unless the return is filed more than 60 days after the receipt of a demand notice from the state tax assessor, in which case the failure-to-file penalty becomes the greater of $25 or 25% of the tax due. The penalty for failure to pay a tax liability timely is 1% of the outstanding liability for each month or fraction thereof during which the failure continues, to a maximum of 25% of the outstanding liability. Form INS-5, Annual Return. File Form INS-5 by March 17, 2025 to reconcile your 2024 fire investigation and prevention tax liability with the estimated tax payments and to pay any additional tax due to avoid interest and penalty charges. Statutory References. This return is made in compliance with 25 M.R.S. § 2399 and 36 M.R.S. § 2521-A. Use the Maine Tax Portal at revenue.maine.gov to file, pay, correspond with MRS, and manage your tax account. Revised: December 2023
2024 Form INS-2
More about the Maine INS-2 Individual Income Tax TY 2024
Use this form to reconcile your fire investigation and prevention tax liability with their estimated tax payments
We last updated the Estimated Monthly Return, Fire Investigation & Prevention Tax in March 2024, so this is the latest version of INS-2, fully updated for tax year 2023. You can download or print current or past-year PDFs of INS-2 directly from TaxFormFinder. You can print other Maine tax forms here.
eFile your Maine tax return now
eFiling is easier, faster, and safer than filling out paper tax forms. File your Maine and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!
File Now with TurboTaxOther Maine Individual Income Tax Forms:
TaxFormFinder has an additional 61 Maine income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Income Tax Instructions | Form 1040ME Instructions |
| Form 1040ES-ME | Vouchers and Instructions for Estimated Tax Payments |
| Schedule PTFC | Schedule PTFC Property Tax Fairness Credit |
| Form 1040EXT-ME | Extension Payment Voucher |
| Schedule B | Minimum Tax Worksheet for Schedule B |
View all 62 Maine Income Tax Forms
Form Sources:
Maine usually releases forms for the current tax year between January and April. We last updated Maine INS-2 from the Revenue Services in March 2024.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Maine INS-2
We have a total of three past-year versions of INS-2 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
TaxFormFinder Disclaimer:
While we do our best to keep our list of Maine Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.