Cal. RTC § 12101
This is the official text of Cal. RTC § 12101, 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
Every insurer transacting the business of ocean marine insurance in this State shall annually pay to the State a tax measured by that portion of the underwriting profit of the insurer from ocean marine insurance written in the United States, which the gross premiums of the insurer from ocean marine insurance written in this State bear to the gross premiums of the insurer from ocean marine insurance written within the United States, at the rate of 5 per cent.
Status: in_force · Read it on the official government site
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