Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Tax on Insurers Law

Index

Insurance Taxation

I. Provisions Applicable to All Insurers

II. Ocean Marine Insurers

III. Insurers Other Than Ocean Marine


I. Provisions Applicable to All Insurers

action to recover taxes overpaid . . . 13102–13113

action to enjoin collection forbidden . . . 13101

assignee may not maintain . . . 13108

Attorney General to defend . . . 13103

disposition of judgment for plaintiff . . . 13106

interest . . . 13107

limitation upon . . . 13103, . . . 13105

procedure in . . . 13102–13105

service of complaint and summons . . . 13108

assessment

correction, application by taxpayer for . . . 12428, . . . 12429

increase or decrease of assessment . . . 12430

notice of corrections . . . 12435

correction of duplicate and illegal assessments . . . 12951, . . . 12952

manner of making . . . 12411–12414, . . . 12421, . . . 12423

notice of . . . 12413

service of notice . . . 12427

time for making . . . 12424, . . . 12431

board, defined . . . 12006

commissioner, defined . . . 12007

controller, defined . . . 12008

deficiency

board, by . . . 12424

date due . . . 12632–12635

determination of correct amount . . . 12421

estimated where no return filed . . . 12423

interest . . . 12631–12636.5

interest; daily basis . . . 12631.5

notice of . . . 12427, . . . 12435

offset of overpayments . . . 12426

payment to controller . . . 12601

penalty . . . 12631–12636

petition for redetermination . . . 12428–12431

proposed . . . 12422

definitions . . . 12001–12009

disposition of proceeds . . . 13151–13153

electronic funds transfer . . . 12602

erroneous refund by controller . . . 12691

insurer, defined . . . 12003

lien of tax . . . 12491, . . . 12493

discharge, how effected . . . 12494

effect of . . . 12493, . . . 12495

time of attachment of . . . 12492

life insurance agent, disclosure of tax . . . 12210

"Medi-Cal managed care plan" defined . . . 12009

misdemeanor to transact business for company suspended for nonpayment of . . . 12832–12834

payment and collection of tax . . . 13151, . . . 13152

accounting and disposition of payments . . . 13151, . . . 13152

controller, payable to . . . 12305, . . . 12601

credit for overpaid taxes . . . 12977–12984

delinquent, time tax becomes . . . 12301

action to collect . . . 12676

attachment . . . 12680

evidentiary effect of record of assessments . . . 12681, . . . 12834

payment of judgment . . . 12682

procedure in . . . 12677–12679

service of summons . . . 12677, . . . 12679

time for . . . 12676

venue . . . 12676

due date . . . 12301

penalty and interest . . . 12631–12637

revocation of certificate of authority . . . 12801–12803

effect of . . . 12832

tax credit . . . 12206, . . . 12208, . . . 12209

tax return . . . 12302–12305

time extension . . . 12306, . . . 12307

time for payment . . . 12301, . . . 12632–12635

State Compensation Insurance Fund . . . 13153

person defined . . . 28

taxes, defined . . . 12005

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II. Ocean Marine Insurers

current calendar year, defined . . . 12072

definitions . . . 12071–12078

expenses incurred, defined . . . 12076

general expenses, defined . . . 12078

losses incurred, defined . . . 12075

marine insurer, defined . . . 12004

net earned premiums, defined . . . 12074

ocean marine insurance, defined . . . 12002

rate and base of tax . . . 12101–12105

participating policies, insurers issuing . . . 12106

reports required of insurance commissioner . . . 12411

reports required of insurers . . . 12302–12306

failure to file, procedure and penalty . . . 12423, . . . 12424

specific expenses, defined . . . 12077

underwriting profit, defined . . . 12073

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III. Insurers Other Than Ocean Marine

in lieu of all other taxes and licenses, except . . . 12204

interest; daily basis . . . 12631.5

"Medi-Cal managed care plan" defined . . . 12009

"Total operating revenue" defined . . . 12241

"Total operating revenue" as basis of tax . . . 12240

"Total operating revenue" exemption . . . 12243

prepayments

amounts due, notification . . . 12252

amounts of prepayment, computation . . . 12254

credit on annual tax . . . 12256

computation of amount of prepayment . . . 12254

extension for prepayment . . . 12255

interest . . . 12258

notification, amounts due . . . 12252

overpayment . . . 12257

penalty . . . 12258

prepayments . . . 12251

relief from penalty . . . 12260

remittance . . . 12253

State Compensation Insurance Fund . . . 12259

rate and base of tax . . . 12201–12241, . . . 12251–12258

insurers not transacting title insurance business . . . 12221, . . . 12222

annuity fund payments . . . 12222

insurers transacting title insurance business . . . 12202, . . . 12231–12233

deductions permitted . . . 12241

reports required of insurance commissioner . . . 12411

reports required of insurers . . . 12302–12306

failure to file, procedure and penalty . . . 12423

State Compensation Insurance Fund, tax upon . . . 12203, . . . 13153

insurer included as . . . 12003

taxed equally with like funds of private insurers . . . 12203

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