SECTIONS 12281-12289 - California Statutes

REVENUE AND TAXATION CODE

SECTION 12281-12289

12281. Annually, on or before April 1, each insurer subject to the
imposition of retaliatory exactions shall file, in duplicate, with
the Insurance Commissioner, in accordance with regulations
promulgated by him or her, a retaliatory tax return in the form
prescribed by the Insurance Commissioner. Annually, on or before June
15th, each insurer subject to the imposition of ocean marine taxes
shall amend its retaliatory tax return by filing, in duplicate, with
the Insurance Commissioner, an amended ocean marine retaliatory tax
return in the form prescribed by the Insurance Commissioner.

12287. Except for the retaliatory tax due on ocean marine
insurance, the retaliatory tax shall be due and payable on or before
April 1 and shall be paid by remittance made payable to the
Controller. Any additional retaliatory tax due on account of ocean
marine insurance shall be due and payable on or before June 15 and
shall be paid by remittance made payable to the Controller. If not
paid on or before the due date, the amount of retaliatory tax shall
bear interest at the modified adjusted rate per month, or fraction
thereof, established pursuant to Section 6591.5, from April 1 (June
15 with respect to any additional ocean marine retaliatory tax) until
the date of payment, and there shall be paid in addition to the tax
and interest, a penalty of 10 percent of the amount of the
retaliatory tax.

12288. Deficiency assessments for retaliatory taxes may be made in
the same manner as is provided by this part for other deficiency
assessments.

12289. All provisions of this part not in conflict with the
provisions of this chapter shall apply to the assessment, levy,
payment, collection and correction of retaliatory taxes, and the
rights and remedies of the State and of insurers provided by this
part shall apply to retaliatory taxes.