Revenue and Taxation Code - RTC
DIVISION 2. OTHER TAXES [6001 - 61050]
( Heading of Division 2 amended by Stats. 1968, Ch. 279. ) PART 7. INSURANCE TAXATION [12001 - 13170]
( Part 7 added by Stats. 1941, Ch. 113. ) CHAPTER 3. All Insurance Other Than Ocean Marine [12201 - 12260]
( Chapter 3 added by Stats. 1941, Ch. 113. ) ARTICLE 5. Prepayments [12251 - 12260]
( Article 5 repealed and added by Stats. 1969, Ch. 736. ) 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) or more shall make prepayments of the annual tax for the current calendar year imposed by Section 28 of Article XIII of the California Constitution and this part, provided that prepayments shall not be made with respect to the tax on ocean
marine insurance underwriting profit or any retaliatory tax.
(b) This section shall become operative on July 1, 2013.
(Amended (as added by Stats. 2013, Ch. 33, Sec. 13) by Stats. 2014, Ch. 362, Sec. 7. (AB 2734) Effective January 1, 2015.)