§ 1.812-1 Taxable years affected.§ 1.812-2 Operations loss deduction.§ 1.812-3 Computation of loss from operations.§ 1.812-4 Operations loss carrybacks and operations loss carryovers.§ 1.812-5 Offset.§ 1.812-6 New company defined.§ 1.812-7 Application of subtitle A and subtitle F.§ 1.812-8 Illustration of operations loss carrybacks and carryovers.§ 1.812-9 Cross-reference.
Amended 1986, 1988, 1996, 1997, 2014, 2017
- 2017 Pub. L. 115-97 Pub. L. 115–97 amended section generally. Prior to amendment, section consisted of subsecs. (a) to (f), relating to definition of company’s share and policyholders’ share as pertaining to net and gross investment incomes.
- 2014 Pub. L. 113-295 Pub. L. 113–295 struck out “, 244,” after “section 243”.
- 1997 Pub. L. 105-34 Pub. L. 105–34 added subpar. (D).
- 1996 Pub. L. 104-188 Pub. L. 104–188 struck out subsec. (g) which read as follows: “Treatment of Interest Partially Tax-Exempt Under Section 133.—For purposes of this section and subsections (a) and (b) of section 807, the terms ‘gross investment income’ and ‘tax-exempt interest’ shall not include any interest received with respect to a securities acquisition loan (as defined in section 133(b)). Such interest shall not be included in life insurance gross income for purposes of subsection (b)(3).”
- 1988 Pub. L. 100-647 Pub. L. 100–647, § 1018(h)(1), amended subsec. (e) generally. Prior to amendment, subsec. (e) read as follows: “For purposes of this section, the term ‘gross investment income’ shall not include any dividend received by the life insurance company which is a 100-percent dividend (as defined in section 805(a)(4)(C)). Such term also shall not include any dividend described in section 805(a)(4)(D) (relating to certain dividends in the case of foreign corporations).”
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 1821(i)(3), amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: “For purposes of this section, the term ‘net investment income’ means 90 percent of gross investment income.”
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 1821(i)(4), added subsec. (g).
Final rules 1
(a) Company’s share For purposes of section 805(a)(4), the term “company’s share” means, with respect to any taxable year beginning after December 31, 2017, 70 percent.
Cited by 1
(b) Policyholder’s share For purposes of section 807, the term “policyholder’s share” means, with respect to any taxable year beginning after December 31, 2017, 30 percent.
Amended 1986, 1987, 1988, 2004
- 2004 Pub. L. 108-218 Pub. L. 108–218 substituted “section 808” for “sections 808 and 809”.
- 1988 Pub. L. 100-647 Pub. L. 100–647, § 2004(p)(2), substituted “In any case where neither the prevailing State assumed interest rate nor the applicable Federal interest rate is used, another appropriate rate shall be used for purposes of subparagraph (A).” for “In any case where the prevailing State assumed rate is not used, another appropriate rate shall be treated as the prevailing State assumed rate for purposes of subparagraph (A).”
- 1987 Pub. L. 100-203 Pub. L. 100–203 substituted “at the greater of the prevailing State assumed rate or the applicable Federal interest rate” for “at the prevailing State assumed rate or, where such rate is not used, another appropriate rate” in subpar. (A), and inserted provision at end that in any case where the prevailing State assumed rate is not used, another appropriate rate be treated as the prevailing State assumed rate for purposes of subpar. (A).
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 1821(i)(1), inserted “or, where such rate is not used, another appropriate rate” after “assumed rate”, in subpar. (A) and added subpar. (D).
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 1821(i)(2), struck out “(including tax-exempt interest)” after “insurance gross income” in cl. (ii) and inserted at end “For purposes of subparagraph (B)(ii), life insurance gross income shall be determined by including tax-exempt interest and by applying section 807(a)(2)(B) as if it did not contain clause (i) thereof.”