Tax Services to Optimize Business Growth
3H Corporate Services provides expertise, advisory services and filing services to help organizations of all sizes meet their tax obligations and avoid statutory actions and costly penalties.
Our focus in the insurance sector means we can quickly and efficiently answer regulatory and filing questions and take appropriate action. Our expertise delivers superior guidance, more quickly and less expensively than would typically be available through general law and accounting firms.
Services we provide include:
Surplus Lines Premium Tax Periodic and Policy Filings
All states and territories have their own unique requirements related to excess and surplus lines. From initial policy reporting to periodic monthly, quarterly, biannual, and annual tax filings, the requirements are confusing and constantly changing. For instance, some states require licensees to consolidate surplus lines policy information into a single report while others require individual reports.
We provide all manner of surplus lines policy and report filings year-round. With our proverbial finger on the pulse of each state’s proposed, upcoming, and implemented changes, our knowledge base is continuously updated.
Most of our clients prefer to turn over the administration of their surplus lines filing requirements to us. Since we use our Creative Compliance Hub platform to manage filings on our clients’ behalf our managed services clients have self-service access to their surplus lines filing documentation 24/7/365.
State Corporate Income Tax
A corporate income tax (CIT) is levied by the federal and state governments, in a majority of states, on the business income of entities taxed as C corporations. Many companies are not subject to the CIT because they are taxed as a pass-through business. These include entities which elect to be disregarded for federal and state tax purposes such as single member LLCs, partnerships and LLCs and corporations electing to be taxed as S Corps. In such cases, income derived from the corporation’s or LLC’s operations is reportable under the personal income tax return of the owner, shareholder, member, or partner, as applicable, of the pass-through entity. Despite this, all these entities, except an entity receiving disregarded income tax filing treatment, must file a corporate income tax return at both the federal and state levels.
3H Corporate Services can help you navigate each state’s corporate income tax rules and regulations. Should you need any assistance, please don’t hesitate to Contact Us.
Insurance Regulatory and Tax Consulting
3H Corporate Services provides information, support, and guidance to help companies evaluate and comply with regulatory- and premium-related tax issues and obligations.
Regulatory and tax compliance are increasingly important issues for business owners, senior executives, and risk managers. There are many different approaches, and they all produce different outcomes. Maximizing these outcomes to the benefit of our clients is what we do best. Our expertise, and the results we achieve on our clients’ behalf, is part of what distinguishes our group from any other company offering managed services.
We provide compliance and tax advisory services through 3H Corporate Services and when appropriate our legal and accounting affiliates.