Enter a New Home or Interstate Submission
In this topic we continue our discussion of multi-state NRRA taxes that we began in Multi-State Taxes NRRA.
In the steps that follow, we show you how to process a new home or interstate submission in compliance with NRRA for home and interstate submissions.
- In the Filing State list, located in Submission Entry, select the home state.
- Select NRRA Multi-State.
- In Submission Entry – Quote Detail – Pg. 2, enter the taxable fees and TRIA premium amounts. In the Premium box, enter the premium and press TAB.
- The home state is selected by default. The premium, taxable fees and TRIA being allocated 100% to the home state. Click Save to save the multi-state allocation without making any changes.
- Click in the Premium box to adjust premium distribution, if applicable.
- Click in the Taxes box to use Surplus Lines Tax Calculator to adjust single state taxes, as required.
- Bind the policy as required.
- In Invoice Transaction Header, click the Multi-State Tax Allocation tab to display the calculator.
- Click a box to change the allocation amounts for the home state. Press TAB to move through the row.
- Click Add to add additional rows. Alternatively, you can click Remove to remove an individual row or Remove All to remove all rows of allocation.
- Select the appropriate option to calculate the premium, taxable fees and TRIA allocations by percentage rather than by entering a dollar amount. This feature can only be used if premium allocation is not used on any of the tax rows.
- Percent Based
- Percent Based Fees
- Percent Based TRIA
- Click Calculate to calculate premiums, taxable fees, and TRIA totals. Any discrepancies are displayed in red.
- When allocations and calculations are complete, click Save and proceed to post the invoice.