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DIVISION 2. OTHER TAXES 6001-60709›PART 7. INSURANCE TAXATION 12001-13170›CHAPTER 2. Ocean Marine Insurance 12071-12107›ARTICLE 2. Basis of Tax for Ocean Marine Insurance 12101-12107

§ 12101

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

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.

(Added by Stats. 1941, Ch. 113.)

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California Revenue and Taxation Code

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