Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2016
Tax on Insurers Law
Chapter 2. Ocean Marine Insurance.
Article 1. Definitions
(a) Deducting all return premiums, premiums on policies not taken, and premiums paid for reinsurance, from
(b) Gross premiums on ocean marine insurance contracts written during the current calendar year, to which remainder is added
(c) Unearned premiums on outstanding ocean marine business at the end of the preceding calendar year, and from which sum is deducted
(d) Unearned premiums on outstanding ocean marine business at the end of the current calendar year.
"Gross premiums" and "return premiums".—See annotations under Section 12221.