(1) Every insurer with a tax obligation under RCW
48.14.020 shall make prepayment of the tax obligations under RCW
48.14.020 for the current calendar year's business, if the sum of the tax obligations under RCW
48.14.020 for the preceding calendar year's business is four hundred dollars or more.
(2) The commissioner shall credit the prepayment toward the appropriate tax obligations of the insurer for the current calendar year under RCW
48.14.020.
(3) The minimum amounts of the prepayments shall be percentages of the insurer's preceding calendar year's tax obligation recomputed using the rate in effect for the current year and shall be paid to the state treasurer through the commissioner's office by the due dates and in the following amounts:
(a) On or before June 15, forty-five percent;
(b) On or before September 15, twenty-five percent; and
(c) On or before December 15, twenty-five percent.
For good cause demonstrated in writing, the commissioner may approve an amount smaller than the preceding calendar year's tax obligation as recomputed for calculating the insurer's prepayment obligations.
(4) The effect of transferring policies of insurance from one insurer to another insurer is to transfer the tax prepayment obligation with respect to the policies.
(5) On or before June 1 of each year, the commissioner shall notify each insurer required to make prepayments in that year of the amount of each prepayment and shall provide remittance forms to be used by the insurer. However, an insurer's responsibility to make prepayments is not affected by failure of the commissioner to send, or the insurer to receive, the notice or forms.