Laws, Regulations and Annotations


Business Taxes Law Guide—Revision 2024

Tax on Insurers Law

Revenue and Taxation Code

Division 2. Other Taxes
Part 7. Insurance Taxation

Chapter 2. Ocean Marine Insurance

Article 2. Basis of Tax for Ocean Marine Insurance*

Section 12103

12103. Basis for computation. Except as otherwise provided in Section 12105, the tax shall be computed each year upon the average annual underwriting profit of the insurer from ocean marine insurance during the preceding three calendar years.

History—Added by Stats. 1961, p. 1980, operative January 1, 1962. Derived from former Section 12151.

* Stats. 1961, p. 1980, operative January 1, 1962, amended the title of Article 2 by substituting "Basis of Tax" for "Tax Base".