Revenue and Taxation Code section 12075

“Losses incurred” means gross losses incurred during the current calendar year under ocean marine contracts written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source applicable to the losses.

Source: Section 12075, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=12075. (updated Jan. 1, 1941; accessed Jul. 6, 2026).

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Up to date

Verified:
Jul. 6, 2026

§ 12075's source at ca.gov

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Location: https://california.public.law/codes/revenue_and_taxation_code_section_12075

Original Source: Section 12075, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=12075. (last accessed May 12, 2025).