§ 12231
55 words·~1 min read·
/ca/revenue-and-taxation-code/12231A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.