Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 12106 — Basis of Tax for Ocean Marine Insurance
Cal. Rev. & Tax. Code § 12106
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In computing the tax of a marine insurer issuing participating policies, there shall not be included in underwriting profit the amounts refunded by the insurer on account of premiums previously paid by its policyholders.
Citator
Cal. Rev. & Tax. Code § 12106 — Basis of Tax for Ocean Marine Insurance is in force in the current edition of the Code, and nothing recorded condemns it.
In computing the tax of a marine insurer issuing participating policies, there shall not be included in underwriting profit the amounts refunded by the insurer on account of premiums previously paid by its policyholders.