Revenue and Taxation Code section 12231

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.

(b)

Rents from real property.

(c)

Profits from the sale or other disposition of investments.

(d)

Income from investments.

Source: Section 12231, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=RTC§ionNum=12231.­ (updated Jan. 1, 1961; accessed Jul. 7, 2025).

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Verified:
Jul. 7, 2025

§ 12231's source at ca​.gov