Section 991.1622 - Tax on independently procured insurance(a)(1) The tax provided by section 1621(a) is imposed upon an insured whose home state is this Commonwealth who independently procures insurance from a nonadmitted insurer or continues or renews such independently procured insurance.(2) If the independently procured insurance covers risks resident, located or to be performed in one or more states other than this Commonwealth, the premium taxes shall be payable as computed in accordance with section 1621(a).(b) The insured shall, within thirty (30) days after the last day of the month in which the insurance was independently procured, continued or renewed, report the transaction on the forms and in the manner prescribed by the Department of Revenue. The report shall set forth the information required of surplus lines licensees as required in any report described under section 1621. The tax of three per centum (3%) shall be paid on the date the report is due as provided under this section. The insured shall file a copy of the report with the department upon its request.(c) A penalty shall be imposed for failure to file the report required under this section on or before the due date in accordance with the rules of section 403(d) of the act of March 4, 1971 (P.L. 6, No. 2), known as the "Tax Reform Code of 1971."1921, May 17, P.L. 682, No. 284, art. XVI, § 1622, added 1992, Dec. 18, P.L. 1519, No. 178, § 19, effective in 120 days. Amended 2010, March 22, P.L. 147, No. 14, §12, effective in 180 days [ 9/20/2010]; 2011, June 30, P.L. 194, No. 28, § 6, imd. effective.