When filing a policy in SLAS SLIP, filers are required to select a coverage code and corresponding tax status. The tax status allows SLAS filing platform to accurately charge the appropriate state taxes, SLAS transaction fees, and any state specific assessments. The table below provides a description of each tax status and its corresponding details.
| TAX STATUS | IS SUBJECT TO | DESCRIPTION |
|---|---|---|
| Tax Status 0 (Taxable) | State Taxes, Applicable State Specific Assessments, SLAS Transaction Fee | All applicable state taxes, assessments, and SLAS Transaction fee will be assessed based on the coverage and total premium amount. |
| Tax Status 6 (Non-Taxable Coverage) | Applicable State Assessments | Each participating state identifies each tax-exempt coverage in their state. The system has been programmed to identify where this tax status is available based on the home state of the policy and coverage combination. |
| Tax Status 7 (Non-Taxable Insured) | SLAS Transaction Fee Only | Any approved tax-exempt entity, approved by the home state, would be filed with this tax status to not have the state taxes applied. NOTE: Any transaction submitted with this tax status will be TIQed and reviewed by SLAS staff. |