ARTICLE 5. Prepayments

Article 5 repealed and added by Stats. 1969, Ch. 736.

§§ 12251–12260 · 9 sections

• § 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)…
• § 12253 (a) Each insurer required to make prepayments shall remit them on or before each of the dates of April 1, June 1, September 1, and December 1 of the current…
• § 12254 (a) The amount of each prepayment shall be 25 percent of the amount of the annual insurance tax liability reported on the return of the insurer for the…
• § 12255 The commissioner, for good cause shown, may extend for not to exceed 10 days the time for making a prepayment. The extension may be granted at any time,…
• § 12256 All amounts paid under this article, other than penalties and interest, shall be allowed as a credit on the annual tax imposed by Section 28 of Article XIII of…
• § 12257 (a) If the total amount of prepayments for any calendar year exceeds the amount of annual tax for that year, the excess shall be treated as an overpayment of…
• § 12258 (a) Any insurer that fails to pay any prepayment within the time required shall pay a penalty of 10 percent of the amount of the required prepayment, plus…
• § 12259 The provisions of this article apply to the State Compensation Insurance Fund as well as to private insurers.
• § 12260 (a) Notwithstanding any other provision of this article, the commissioner may relieve an insurer of its obligation to make prepayments if the insurer…