§ 1.801-1 Definitions.§ 1.801-2 Taxable years affected.§ 1.801-3 Definitions.§ 1.801-4 Life insurance reserves.§ 1.801-5 Total reserves.§ 1.801-6 Adjustments in reserves for policy loans.§ 1.801-8 Contracts with reserves based on segregated asset accounts.Prop. § 1.801-4 Proposed 1997 · Life insurance reserves.
Amended 2017
- 2017 Pub. L. 115-97 Pub. L. 115–97, § 13514(b), struck out subsec. (c) which referred to section 815 of this title for taxation of distributions from pre-1984 policyholders surplus account.
Cases: United States v. Consumer Life Insurance Co., 430 U.S. 725 (1977); Economy Finance Corp. v. United States, 501 F.2d 466 (7th Cir. 1974); Harco Holdings v. United States, 977 F.2d 1027 (7th Cir. 1992)
Final rules 1
(a) Tax imposed A tax is hereby imposed for each taxable year on the life insurance company taxable income of every life insurance company. Such tax shall consist of a tax computed as provided in section 11 as though the life insurance company taxable income were the taxable income referred to in section 11.
Amended 1986, 2017
- 2017 Pub. L. 115-97 Pub. L. 115–97, § 13001(b)(2)(G), struck out par. (1) designation and heading “In general” and struck out par. (2) which related to alternative tax in case of capital gains.
- 2017 Pub. L. 115-97 Pub. L. 115–97, § 13512(b)(3), which directed striking out subpar. (C) of par. (2), could not be executed because of the prior amendment by section 13001(b)(2)(G) of Pub. L. 115–97, which struck out par. (2). See above.
- 1986 Pub. L. 99-514 Pub. L. 99–514 substituted “the amount allowable as a deduction under paragraph (2)” for “the amounts allowable as deductions under paragraphs (2) and (3)” in text and struck from heading “special life insurance company deduction and” before “small”.