Laws, Regulations and Annotations
Search
Business Taxes Law Guide—Revision 2024
Tax on Insurers Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 7. Insurance Taxation
Chapter 3. All Insurance Other Than Ocean Marine
Article 5. Prepayments*
Section 12251
12251. Prepayments. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]
12251. Prepayments. [Repealed by Stats. 2013, Ch. 33 (SB 78), effective January 1, 2015.]
12251. Prepayments. (a) Each calendar year, insurers transacting insurance in this state and whose annual tax for the preceding calendar year was twenty thousand dollars ($20,000) or more shall make prepayments of the annual tax for the current calendar year imposed by Section 28 of Article XIII of the California Constitution and this part, provided that prepayments shall not be made with respect to the tax on ocean marine insurance underwriting profit or any retaliatory tax.
(b) This section shall become operative on July 1, 2013.
History—Added by Stats. 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2013. Stats. 2014, Ch. 362 (AB 2734), in effect January 1, 2015, substituted "Each calendar year" for "For the calendar year 1970, and each calendar year thereafter" before ", insurers transacting insurance", substituted "twenty thousand dollars ($20,000)" for "five thousand dollars ($5,000)" after "preceding calendar year was", deleted "no" after "part, provided that", and added "not" after "prepayments shall" in subdivision (a).
* Article 5 was added by Stats. 1969, p. 1473, in effect August 14, 1969, operative January 1, 1970.