Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2014
Tax on Insurers Law
Chapter 2. Ocean Marine Insurance.
Article 1. Definitions
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.