{"code":"RTC","codeName":"Revenue and Taxation Code","section":"12103","citation":"Rev. & Tax. Code, § 12103","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 7. INSURANCE TAXATION [12001. - 13170.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-7"},{"name":"CHAPTER 2. Ocean Marine Insurance [12071. - 12107.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-7/chapter-2"},{"name":"ARTICLE 2. Basis of Tax for Ocean Marine Insurance [12101. - 12107.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-7/chapter-2/article-2"}],"history":"Added by Stats. 1961, Ch. 740.","effective":null,"html":"<p>Except as otherwise provided in Section <a href=\"/rtc/12105\">12105</a>, 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.</p>","text":"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.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/basis-of-tax-for-ocean-marine-insurance-12103","source":"California Legislative Information bulk export (pubinfo)"}