Ohio Insurance Agents and Agencies Owe More Than $16.5 Million in Outstanding State Income Taxes

Tax lien project to be initiated by the Ohio Department of Insurance and the Attorney General’s Office. 

The Ohio Department of Insurance and the Ohio Attorney General’s Office recently learned that Ohio insurance agents and agencies owe more than $16.5 million in outstanding income taxes.

In order to prompt compliance with Ohio’s insurance and tax laws, the Department, in the near future, will be mailing licensed individuals and entities who have outstanding tax liens information explaining who they should contact to resolve their outstanding tax obligations. Individuals contacted will additionally be encouraged to take proactive measures to satisfy their tax obligations or enter into a payment plan with the AG’s office by December 31, 2009. 

As Ohio Revised Code 3905.14(B)(14) states the superintendent of insurance may suspend, revoke or fail to renew any license of an insurance agent who fails to comply with an administrative or court order directing the payment of state income tax, agents who fail to take measures to resolve their outstanding tax obligations may face administrative action on their license. 

---