Laws, Regulations and Annotations
Business Taxes Law Guide – Revision 2023
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*
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".