CHAPTER 3. All Insurance Other Than Ocean Marine [12201. - 12260.]

Chapter 3 added by Stats. 1941, Ch. 113.

§§ 12201–12260 · 27 sections

1. ARTICLE 1. General §§ 12201–12210 · 11 sections

   • § 12201 (a) Every insurer doing business in this state shall annually pay to the state a tax on the bases, at the rates, and subject to the deductions from the tax…
   • § 12202 The rate of tax to be applied to the basis of the annual tax in respect to each year is 2.35 percent except the rate to be applied to the basis in respect to…
   • § 12202.1 Notwithstanding the rate specified by Section 12202, the gross premiums tax rate paid by insurers for any premiums collected between November 8, 1988 and…
   • § 12203 The State Compensation Insurance Fund shall annually pay a tax computed on the same bases, at the same rates, and subject to the same deductions specified in…
   • § 12204 (a) The tax imposed on insurers by this chapter is in lieu of all other taxes and licenses, state, county, and municipal, upon those insurers and their…
   • § 12205 It is the intent of the Legislature that the amount of the state low-income housing tax credit allocated to a project pursuant to Section 12206 shall not…
   • § 12206 (a) (1) There shall be allowed as a credit against the “tax,” described by Section 12201, a state low-income housing tax credit in an amount equal to the…
   • § 12207 (a) For the taxable years beginning on or after January 1, 2017, and before January 1, 2028, there shall be allowed as a credit against the “tax,” as described…
   • § 12208 (a) There shall be allowed as a credit against the amount of tax, as defined in Section 28 of Article XIII of the California Constitution, an amount equal to…
   • § 12209 (a) Notwithstanding Sections 12207 and 12208 to the contrary, for the years 2020 and 2021, the total amount of all credits otherwise allowable under Sections…
   • § 12210 (a) A life insurer or life insurance agent shall inform his or her client of the tax imposed under this part. (b) A life insurer or life insurance agent who…
2. ARTICLE 2. Basis of Tax for Other Than Title Insurers §§ 12221–12222 · 2 sections

   • § 12221 In the case of an insurer not transacting title insurance in this State, the basis of the tax is, in respect to each year, the amount of gross premiums, less…
   • § 12222 Funds accepted by a life insurer under an agreement which provides for an accumulation of funds to purchase annuities at future dates may be considered as…
3. ARTICLE 3. Basis of Tax for Title Insurers §§ 12231–12232 · 2 sections

   • § 12231 In the case of an insurer transacting title insurance in this State, the basis of the tax is, in respect to each year, all income upon business done in this…
   • § 12232 “Investments,” as used in Section 12231, includes property acquired by an insurer in the settlement or adjustment of claims against it but excludes investments…
4. ARTICLE 4. Basis of Tax for Medi-Cal Managed Care Plans §§ 12240–12242 · 3 sections

   • § 12240 In the case of a Medi-Cal managed care plan, the basis of the tax is, in respect to each year, total operating revenue.
   • § 12241 For purposes of this article, “total operating revenue” means all amounts received by a Medi-Cal managed care plan in premium or capitation payments for the…
   • § 12242 This article shall be operative on July 1, 2012.
5. ARTICLE 5. Prepayments §§ 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…