Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2010

Tax on Insurers Law

Chapter 2. Ocean Marine Insurance.

Article 1. Definitions

Section 12077

12077. "Specific expenses." "Specific expenses" means expenses incurred directly and specifically in connection with earned ocean marine premiums, including all commissions, agency expenses, taxes, licenses, fees, and loss-adjustment expenses, less recoveries or reimbursements on account of or in connection with the commissions or other expenses collected or collectible because of reinsurance or from any other source.