California Revenue and Taxation Code ARTICLE 5 - Prepayments

• Section 12251.
  (a) Each calendar year, insurers transacting insurance in this state and whose annual tax for the preceding calendar year was twenty thousand dollars ($20,000) or more...
• Section 12253.
  (a) Each insurer required to make prepayments shall remit them on or before each of the dates of April 1, June 1, September 1, and December...
• Section 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...
• Section 12255.
  The commissioner, for good cause shown, may extend for not to exceed 10 days the time for making a prepayment. The extension may be granted...
• Section 12256.
  All amounts paid under this article, other than penalties and interest, shall be allowed as a credit on the annual tax imposed by Section 28...
• Section 12257.
  (a) If the total amount of prepayments for any calendar year exceeds the amount of annual tax for that year, the excess shall be treated as...
• Section 12258.
  (a) Any insurer that fails to pay any prepayment within the time required shall pay a penalty of 10 percent of the amount of the required...
• Section 12259.
  The provisions of this article apply to the State Compensation Insurance Fund as well as to private insurers.(Repealed and added by Stats. 1969, Ch. 736.)
• Section 12260.
  (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...

Last modified: October 22, 2018