Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Tax on Insurers Law

Chapter 3. All Insurance Other Than Ocean Marine.

Article 5. Prepayments*

Section 12251

Text of section operative through June 30, 2012

12251. Prepayments. (a) For the calendar year 1970, and each calendar year thereafter, insurers transacting insurance in this state and whose annual tax for the preceding calendar year was five thousand dollars ($5,000) 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 no prepayments shall be made with respect to the tax on ocean marine insurance underwriting profit or any retaliatory tax.

(b) Medi-Cal managed care plans shall make prepayments of the tax imposed by Section 12201 for the current calendar year, except that no prepayments shall be required prior to the effective date of the act adding this subdivision, and no penalties and interest shall be imposed pursuant to Section 12261 for not making those prepayments.

(c) This section shall become inoperative on July 1, 2012, and, as of January 1, 2013, is repealed, unless a later enacted statute, that becomes operative on or before July 1, 2012, deletes or extends the dates on which it becomes inoperative and is repealed.

History.—Added by Stats. 1974, p. 620, operative November 6, 1974, substituted "Section 28" for "Section 144/5". Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first sentence as subdivision (a); and added subdivisions (b) and (c). Stats. 2010, Ch. 717 (SB 853), in effect October 19, 2010, deleted former subdivision (c) which provided that "This section shall remain in effect only until January 1, 2011, and as of that date is repealed." and added a new subdivision (c). Stats. 2011, Ch. 11x1 (ABx1 21), in effect September 16, 2011, substituted "2012" for "2011" after "inoperative on July 1,", substituted "2013" for "2012" after "as of January 1,", substituted "July" for "January" after "operative on or before" in subdivision (c). deletion

12251. Prepayments. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]

TEXT OF SECTION OPERATIVE JULY 1, 2012, THROUGH JUNE 30, 2013

12251. Prepayments. (a) For the calendar year 1970, and each calendar year thereafter, insurers transacting insurance in this state and whose annual tax for the preceding calendar year was five thousand dollars ($5,000) 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 no prepayments shall be made with respect to the tax on ocean marine insurance underwriting profit or any retaliatory tax.

(b) Medi-Cal managed care plans shall make prepayments of the tax imposed by Section 12201 for the current calendar year, except that no prepayments shall be required prior to the effective date of the act adding this subdivision, and no penalties and interest shall be imposed pursuant to Section 12261 for not making those prepayments.

(c) This section shall be operative on July 1, 2012, and become inoperative on July 1, 2013. As of January 1, 2015, this section shall be repealed.

History.—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2012.

TEXT OF SECTION OPERATIVE JULY 1, 2013

12251. Prepayments. (a) For the calendar year 1970, and each calendar year thereafter, insurers transacting insurance in this state and whose annual tax for the preceding calendar year was five thousand dollars ($5,000) 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 no prepayments shall 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.

History.—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2013.

* Article 5 was added by Stats. 1969, p. 1473, in effect August 14, 1969, operative January 1, 1970.