Premium Pro Help

South Carolina State Specifics

Premium Pro Municipal generates the Municipal Association of South Carolina premium tax return for both Property & Casualty and Life companies. Chapter 38-78-160 of the South Carolina Code of Laws prescribes the tax. Only one payment request is generated, as only one payment must be submitted to MASC.

You may not file the return included in the software. However, you may export this information to a comma separated value file that may be submitted to MASC. To export to a CSV file, select “Export MASC” from the file menu.

To export to a csv file, go to the file menu and select “Export MASC,” then save the file where you wish.

South Carolina Company Options

• Allocate any variance from the Annual Premium Tax Return. When selected, any variance between Schedule 5 of the Annual Premium Tax return and total premiums entered into the Municipal Input Schedule will be sourced to the first line of the Input Schedule as code “00 PREMIUM TAX ADJUSTMENT.” The variance will be allocated to each municipality in the Input Schedule that lists taxable premiums (negative or positive). The variance will not be allocated to premiums appearing under code 9998, Other Municipalities. As a result, the amount of premiums reported to MASC will tie to the total premiums reported in Schedule 5 of the Annual Premium Tax return.