432A.2 Profit within this state.
The underwriting profit on such insurance written within this state shall be that proportion of the total underwriting profit of such insurer from such insurance written within the United States which the amount of net premiums of such insurer from such insurance written within this state bears to the total amount of net premiums of such insurer from such insurance written within the United States.
[C75, 77, 79, 81, §432A.2]
Referred to in §432A.1
Structure Iowa Code
Chapter 432A - MARINE INSURANCE TAX
Section 432A.1 - Amount of tax on underwriting profit.
Section 432A.2 - Profit within this state.
Section 432A.3 - Profit within United States.
Section 432A.4 - Computation of net earned premiums.
Section 432A.5 - Expenses incurred.
Section 432A.6 - Computation of tax on ocean marine insurance profit.
Section 432A.7 - Tax payable annually.
Section 432A.8 - Filing tax return.
Section 432A.9 - Underwriting profits tax in lieu of other taxes.