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Earlier editions: 2020-112018-112026-09

DIVISION 2. OTHER TAXES 6001-61050›PART 7. INSURANCE TAXATION 12001-13170›CHAPTER 2. Ocean Marine Insurance 12071-12107›ARTICLE 2. Basis of Tax for Ocean Marine Insurance 12101-12107

§ 12103

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

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.

(Added by Stats. 1961, Ch. 740.)

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California Revenue and Taxation Code

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