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Business Taxes Law Guide—Revision 2024

Tax on Insurers Law

Revenue and Taxation Code

Division 2. Other Taxes
Part 7. Insurance Taxation

Chapter 3. All Insurance Other Than Ocean Marine

Article 5. Prepayments*

Section 12260


12260. Relief from prepayments. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]


12260. Relief from prepayments. [Repealed by Stats. 2013, Ch. 33 (SB 78), effective January 1, 2015.]


12260. Relief from prepayments. (a) Notwithstanding any other provision of this article, the commissioner may relieve an insurer of its obligation to make prepayments if the insurer establishes to the satisfaction of the commissioner that either the insurer has ceased to transact insurance in this state, or the insurer's annual tax for the current year will be less than twenty thousand dollars ($20,000).

(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. Stats. 2014, Ch. 362 (AB 2734), in effect January 1, 2015, substituted "if" for "where" after "obligation to make prepayments" and substituted "twenty thousand dollars ($20,000)" for "five thousand dollars ($5,000)" after "will be less than" in subdivision (a).


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