Amended 1958, 1965, 1976
- 1976 Pub. L. 94-455 Pub. L. 94–455 substituted in par. (1) “4 cents” for “four cents” and “premium paid” for “premium charged”, in pars. (2) and (3) “1 cent” for “one cent” and “premium paid” for “premium charged”, and struck out provision following par. (3) relating to computation of tax on premium paid in lieu of premium charged.
- 1965 Pub. L. 89-44 Pub. L. 89–44 inserted last sentence relating to computation of tax on premium paid in lieu of premium charged.
- 1958 Pub. L. 85-859 Pub. L. 85–859 substituted “is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax” for “shall be imposed a tax on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer”.
Cases: United States v. International Business Machines Corp., 517 U.S. 843 (1996)
There is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax at the following rates:
(1) Casualty insurance and indemnity bonds 4 cents on each dollar, or fractional part thereof, of the premium paid on the policy of casualty insurance or the indemnity bond, if issued to or for, or in the name of, an insured as defined in section 4372(d);
Cited by 8
(2) Life insurance, sickness, and accident policies, and annuity contracts 1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of life, sickness, or accident insurance, or annuity contract; and
Amended 1956, 1959, 1984, 1987, 1989
- 1989 Pub. L. 101-239 Pub. L. 101–239 struck out “, unless the insurer is subject to tax under section 842(b)” after “or annuity contract”.
- 1987 Pub. L. 100-203 Pub. L. 100–203 substituted “section 842(b)” for “section 813”.
- 1984 Pub. L. 98-369 Pub. L. 98–369 substituted “section 813” for “section 819”.
- 1959 Pub. L. 86-69 Pub. L. 86–69 substituted “section 819” for “section 816”.
- 1956 Act Mar. 13, 1956, substituted “section 816” for “section 807”.
Cited by 6
(3) Reinsurance 1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of reinsurance covering any of the contracts taxable under paragraph (1) or (2).