Subchapter L
E67171
Subchapter L is the portion of the U.S. Internal Revenue Code that sets forth the federal income tax rules applicable to insurance companies.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
U.S. federal tax law provision
→
portion of the Internal Revenue Code → |
| administeredBy |
Internal Revenue Service
→
|
| appliesTo |
certain foreign insurance companies with U.S. business
→
companies engaged in the business of issuing insurance or annuity contracts → domestic insurance companies → insurance companies → |
| citationContext |
Title 26 of the United States Code
→
|
| codeType |
federal statute
→
|
| country |
United States of America
→
|
| doesNotCover |
state insurance premium taxes
→
state regulation of insurance solvency → |
| governs |
income tax treatment of insurance companies
→
life insurance companies → mutual insurance companies → nonlife insurance companies → property and casualty insurance companies → stock insurance companies → |
| hasLanguage |
English
→
|
| interpretedBy |
U.S. federal courts
→
|
| isFrameworkFor |
tax compliance of insurance companies
→
|
| jurisdiction |
United States
→
|
| legalDomain |
insurance taxation
→
tax law → |
| legalSystem |
common law
→
|
| partOf |
Internal Revenue Code
→
|
| purpose |
to provide specialized income tax rules for insurance companies
→
to reflect unique accounting and reserving practices of insurance companies in tax law → |
| regulates |
federal income taxation of insurance companies
→
|
| relatedTo |
Subchapter C
→
Subchapter K → Subchapter N → |
| scope |
federal income tax only
→
|
| subjectMatter |
capital and surplus accounts of insurance companies
→
computation of taxable income of insurance companies → life insurance company reserves → loss reserves → policyholder dividends → reinsurance transactions → reserves of insurance companies → special deductions for insurance companies → treatment of premiums and losses → unearned premium reserves → |
| taxType |
income tax
→
|
| usedBy |
IRS examiners dealing with insurance companies
→
insurance company tax departments → tax practitioners → |
Referenced by (1)
| Subject (surface form when different) | Predicate |
|---|---|
|
Internal Revenue Code
→
|
contains |