Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 12101 — Basis of Tax for Ocean Marine Insurance
Cal. Rev. & Tax. Code § 12101
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Every insurer transacting the business of ocean marine insurance in this State shall annually pay to the State a tax measured by that portion of the underwriting profit of the insurer from ocean marine insurance written in the United States, which the gross premiums of the insurer from ocean…
Citator
Cal. Rev. & Tax. Code § 12101 — Basis of Tax for Ocean Marine Insurance is in force in the current edition of the Code, and nothing recorded condemns it.
Every insurer transacting the business of ocean marine insurance in this State shall annually pay to the State a tax measured by that portion of the underwriting profit of the insurer from ocean marine insurance written in the United States, which the gross premiums of the insurer from ocean marine insurance written in this State bear to the gross premiums of the insurer from ocean marine insurance written within the United States, at the rate of 5 per cent.