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RULES FOR RESERVES
REDUCED DEDUCTIONS FOR MUTUAL COMPANIES
12 other sections not shown
810 and adding accident and health Act Sec adding Code Sec adjustment allocated annuity contracts apply assumed interest rate average equity base bill carryback cash value company taxable income company's contiguous country contracts issued controlled group death benefit December 31 differential earnings amount dividends received election exceed gross income guideline premium increase insurance and annuity insurance business insurance company deduction insurance company taxable insurance contract insurance reserves Internal Revenue Code investment income mutual companies mutual life insurance NAIC noninsurance business paid pany paragraph percent policyholder dividends policyholders surplus account present law prevailing State assumed prior law repealing Code Sec reserve method respect Senate Committee Report September 27 small life insurance special life insurance special rule statutory reserves stock life insurance subparagraph subsection subsidiary taken into account tax avoidance tax reserves taxable year beginning tentative LICTI term life insurance tion transitional rule treated variable contracts