Cal. RTC § 12075
This is the official text of Cal. RTC § 12075, part of California’s Revenue and Taxation Code — governs state and local taxation, including income and property tax.
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Official statutory text
“Losses incurred” means gross losses incurred during the current calendar year under ocean marine contracts written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source applicable to the losses.
Status: in_force · Read it on the official government site
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