83-391: Insurance Company Income Tax Return (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Form 83-391 is the 2024 Mississippi Insurance Company Income Tax Return. It reports Mississippi and company-wide income and deductions, calculates Mississippi net taxable income and income tax, and records credits, payments, and any balance due or overpayment.
Who files this form
Form 83-391 is Mississippi’s Insurance Company Income Tax Return for tax year 2024. It includes checkboxes for fire and casualty, accident and health, and life insurance.
The form does not state which insurance companies are required to file.
What you'll need
Have the information and supporting schedules needed for the lines that apply to your company:
- Company identification, including FEIN, Mississippi Secretary of State ID, legal name and DBA, address, county code, and NAICS code.
- Mississippi and company-wide income and deduction amounts, including premiums, reinsurance, investment income, benefits, reserves, and expenses.
- The annual statement used for apportioned deductions in page 4, Part IV.
- Prior-year overpayment, estimated tax payments, and any payment made with an extension.
- Schedules for agency expense and other allocable deductions.
- For Mississippi corporations reporting retaliatory taxes paid, an itemized list by state and copies of returns documenting the amounts.
Other forms referenced, where applicable, are Form 83-401 or Form 83-310 for credits, Form 83-310 for combined-return amounts, Form 83-155 for a Mississippi net operating loss, and Form 83-305 for interest and penalty on underestimated income tax payments.
How to file
Complete the applicable income, deduction, and tax calculations, and check all boxes that apply. The form includes an officer signature and title, a date, and paid preparer fields.
Mail the return to:
DEPARTMENT OF REVENUE
P.O. BOX 23191
JACKSON, MS 39225-3191
For a balance due, the form says to attach a check or money order or see the instructions for electronic payment options. No instructions were provided, so electronic payment details and e-filing directions are not available in the supplied text.
Common mistakes
- Not rounding amounts: The form says to round to the nearest dollar.
- Missing applicable checkboxes: Check all boxes that apply. For a combined income tax return, enter the reporting company’s FEIN.
- Not separately apportioning expenses: Page 4 says expenses must be separately apportioned. Attach supplementary pages as needed.
- Leaving out required schedules: Attach schedules for agency expense and other allocable deductions.
- Not documenting retaliatory taxes: This part is for Mississippi corporations only. Itemize taxes paid by state and attach copies of returns documenting the amounts.
Questions people ask
Can an overpayment be applied to next year?
Yes. Page 1, line 16 reports the amount of the total overpayment credited to next year. Line 17 reports the amount refunded, calculated as line 15 minus line 16.
Where do I report a Mississippi net operating loss?
Report it on page 2, line 16, using Form 83-155, Part I, line 2.
What is the minimum late filing penalty shown on the form?
Page 1, line 13 lists a minimum late filing penalty of $100.
Can the return be discussed with my preparer?
The form includes a checkbox to indicate that the return may be discussed with the preparer.