On December 8, 2023, Kansas Insurance Department Issued Guidance for Insurance Companies on Surplus Lines Tax Deduction. Surplus Lines tax rate to be reduced from 6% to 3% for tax year 2024 and after. New rate of 3% applicable to policies and policy endorsements after January 1, 2024. New and Renewal policies and endorsements effective prior to January 1, 2024 will remain at 6%. Please see attached for more informaiton.

Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.