S. 991
A bill to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.
Read twice and referred to the Committee on Finance.
Sponsor
Sen. Menendez, Robert [D-NJ]
Bill Details
- Update Date
- Jan 11, 2023
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 991
- Congress
- 113
- Introduced Date
- May 20, 2013
- Policy Area
- Taxation
- Is Law
- No
Read twice and referred to the Committee on Finance.
Source: Senate
Introduced in Senate
Source: Library of Congress
Amends the Internal Revenue Code to exclude from the taxable income of a life insurance company or other insurance company: (1) any non-taxed reinsurance premium; (2) any additional amount paid by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid; and (3) any return premium, ceding commission, reinsurance recovered, or other amount received by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid.
Finance Committee
Introduced in Senate
May 20, 2013