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2017 California Code
Revenue and Taxation Code - RTC
DIVISION 2 - OTHER TAXES
PART 7 - INSURANCE TAXATION
CHAPTER 3 - All Insurance Other Than Ocean Marine
ARTICLE 5 - Prepayments
Section 12251.
Universal Citation:
CA Rev & Tax Code § 12251 (2017)
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12251.
(a) Each calendar year, insurers transacting insurance in this state and whose annual tax for the preceding calendar year was twenty thousand dollars ($20,000) or more shall make prepayments of the annual tax for the current calendar year imposed by Section 28 of Article XIII of the California Constitution and this part, provided that prepayments shall not be made with respect to the tax on ocean marine insurance underwriting profit or any retaliatory tax.
(b) This section shall become operative on July 1, 2013.
(Amended (as added by Stats. 2013, Ch. 33, Sec. 13) by Stats. 2014, Ch. 362, Sec. 7. (AB 2734) Effective January 1, 2015.)
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