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Section 12254 Of Article 5. Prepayments From California Revenue And Taxation Code >> Division 2. >> Part 7. >> Chapter 3. >> Article 5.
12254
. (a) The amount of each prepayment shall be 25 percent of the
amount of the annual insurance tax liability reported on the return
of the insurer for the preceding calendar year.
(b) In establishing the prepayment amount of an insurer that has acquired the business of another insurer, the amount of tax liability of the acquiring insurer reported for the preceding calendar year shall be deemed to include the amount of tax liability of the acquired insurer reported for that year.
(c) This section shall become operative on July 1, 2013.
(b) In establishing the prepayment amount of an insurer that has acquired the business of another insurer, the amount of tax liability of the acquiring insurer reported for the preceding calendar year shall be deemed to include the amount of tax liability of the acquired insurer reported for that year.
(c) This section shall become operative on July 1, 2013.
