By Josh Chetwynd
A recent announcement by Ohio Lt. Gov. Mary Taylor about the state wanting to recover more than $15 million in unpaid taxes from insurance agents has a regional insurance agents’ association sounding the alarm to make sure brokers books are in order.
Insurance Agents & Brokers (IA&B), which is a partnership of agent associations from Delaware, Maryland and Pennsylvania, brought attention to the Ohio insurance agent tax lien program, which “aims to recover unpaid income tax, sales tax and workers’ compensation premium payments,” on its website following Taylor’s announcement.
In particular, the organization warned non-resident license holders in the state to be on the lookout. IA&B specifically reminded those in that category that they may be required to register their agency with the Ohio Department of State. If so, there are tax and filing implications -- even if the agent doesn’t collect revenue in the state.
The association also advised agents to answer any letters from the department quickly, as there can be penalties for slow responses.
The tax lien program is a partnership between the Ohio Department of Insurance, Ohio Department of Taxation and Ohio Attorney General’s Office. Agents who are concerned that they are not in compliance should contact the Ohio Attorney General’s Collections Enforcement Office at 1-888-301-8885 to address any potentially outstanding obligations. Alternatively, brokers can contact the Ohio Department of Insurance Enforcement at 1-614-644-2560.
