There is a newer version of the New Jersey Revised Statutes
2016 New Jersey Revised Statutes
Title 54 - Taxation
Section 54:16-3 - Underwriting Profit; How Computed
NJ Rev Stat § 54:16-3 (2016) What's This?
54:16-3. Underwriting profit; how computed
The term "underwriting profit" as used herein shall be computed by deducting from the net earned premiums on the marine insurances written within the United States during the calendar year,
a. The losses incurred, and
b. Expenses incurred including all taxes, state and federal, in connection with such net earned premiums.
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