INSTRUCTIONS: NEVADA ANNUAL INSURANCE PREMIUM TAX RECONCILIATION RETURN (Form IPT-R)
If required to file Nevada quarterly insurance premium tax returns during the year, an annual reconciliation form must be filed. This document can be found on the website of the Nevada Department of Taxation.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 1: In the top right-hand corner, enter your tax identification number, federal ID, premium tax, retaliatory tax and total remittance.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 2: On lines 1 through 4, enter your reported and actual quarterly taxable premiums for the quarters listed.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 3: Enter the total of the figures on lines 1 through 4 on line 5.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 4: On line 6, enter your total premiums and consideration.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 5: On line 7, calculate your gross premium tax as instructed.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 6: If you qualify, calculate your home office credit as instructed on line 8a.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 7: If you qualify for a home office credit, enter the amount of ad valorem taxes paid on line 8b.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 8: Enter the maximum credit allowed on line 8c.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 9: Enter the allowable home office credit on line 8d.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 10: Subtract line 8d from line 7. Enter the resulting difference on line 9.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 11: Enter the life/health guaranty association offset on line 10 and the property/casualty guaranty association credit on line 11.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 12: Enter total payments made with your quarterly payments on line 12. Do not include penalties or interest.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 13: On line 13, enter any overpayment and specify the year.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 14: On line 14, enter the net premium tax due.
Nevada Annual Insurance Premium Tax Reconciliation Return IPT-R Step 15: Complete the rest of the form as instructed.
