California Revenue and Taxation Code 12231 – In the case of an insurer transacting title insurance in this State, …
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In the case of an insurer transacting title insurance in this State, the basis of the tax is, in respect to each year, all income upon business done in this State, except:
(a) Interest and dividends.
Terms Used In California Revenue and Taxation Code 12231
- Insurer: as used in this part includes each of the following:
California Revenue and Taxation Code 12003
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) Rents from real property.
(c) Profits from the sale or other disposition of investments.
(d) Income from investments.
(Added by Stats. 1961, Ch. 740.)