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26 U.S.C. § 809 — Repealed. Pub. L. 108–218, title II, § 205(a), Apr. 10, 2004, 118 Stat. 610]

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 809 — Repealed. Pub. L. 108–218, title II, § 205(a), Apr. 10, 2004, 118 Stat. 610]

### Statutory Notes Section, added Pub. L. 98–369, div. A, title II, § 211(a), July 18, 1984, 98 Stat. 733; amended Pub. L. 99–514, title XVIII, § 1821(d)–(h), (r), Oct. 22, 1986, 100 Stat. 2839, 2840, 2843; Pub. L. 100–647, title I, § 1018(u)(47), Nov. 10, 1988, 102 Stat. 3593; Pub. L. 107–147, title VI, § 611(a), Mar. 9, 2002, 116 Stat. 61, related to reduction in certain deductions of mutual life insurance companies. A prior section 809, added Pub. L. 86–69, § 2(a), June 25, 1959, 73 Stat. 121; amended Pub. L. 87–59, § 2(a), (b), June 27, 1961, 75 Stat. 120; Pub. L. 87–790, § 3(a), Oct. 10, 1962, 76 Stat. 808; Pub. L. 87–858, § 3(b)(3), (c), Oct. 23, 1962, 76 Stat. 1137; Pub. L. 88–272, title II, §§ 214(b)(4), 228(a), Feb. 26, 1964, 78 Stat. 55, 98; Pub. L. 91–172, title II, § 201(a)(2)(C), title IX, § 907(c)(2)(B), Dec. 30, 1969, 83 Stat. 558, 717; Pub. L. 94–455, title XV, § 1508(a), title XIX, §§ 1901(a)(98), (b)(1)(J)(iv), (L)–(N), 33(G), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1741, 1781, 1791, 1801, 1834; Pub. L. 97–248, title II, §§ 255(b)(2)–(4), 259(a), 264(c)(2), (3), Sept. 3, 1982, 96 Stat. 534, 538, 544; Pub. L. 97–448, title I, § 102(m)(1), Jan. 12, 1983, 96 Stat. 2374, related to general provisions regarding gain and loss from operations, prior to the general revision of this part by Pub. L. 98–369, § 211(a). #### Effective Date of Repeal Repeal applicable to taxable years beginning after Dec. 31, 2004, see section 205(c) of Pub. L. 108–218, set out as an Effective Date of 2004 Amendment note under [section 807 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section807&num=0&edition=prelim).

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 807 — Rules for certain reserves

**(a) Decrease treated as gross income** If for any taxable year— (1) the opening balance for the items described in subsection (c), exceeds (2) (A) the closing balance for such items, reduced by (B) the amount of the policyholders’ share of tax-exempt interest and the amount of the policyholder’s share of the increase for the taxable year in policy cash values (within the meaning of section 805(a)(4)(F)) of life insurance policies and annuity and endowment contracts to which section 264(f) applies, such excess shall be included in gross income under section 803(a)(2). **(b) Increase treated as deduction** If for any taxable year— (1) (A) the closing balance for the items described in subsection (c), reduced by (B) the amount of the policyholders’ share of tax-exempt interest and the amount of the policyholder’s share of the increase for the taxable year in policy cash values (within the meaning of section 805(a)(4)(F)) of life insurance policies and annuity and endowment contracts to which section 264(f) applies, exceeds (2) the opening balance for such items, such excess shall be taken into account as a deduction under section 805(a)(2). **(c) Items taken into account** The items referred to in subsections (a) and (b) are as follows: (1) The life insurance reserves (as defined in section 816(b)). (2) The unearned premiums and unpaid losses included in total reserves under section 816(c)(2). (3) The amounts (discounted at the appropriate rate of interest) necessary to satisfy the obligations under insurance and annuity contracts, but only if such obligations do not involve (at the time with respect to which the computation is made under this paragraph) life, accident, or health contingencies. (4) Dividend accumulations, and other amounts, held at

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 801 — Tax imposed

**(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. **(b) Life insurance company taxable income** For purposes of this part, the term “life insurance company taxable income” means— (1) life insurance gross income, reduced by (2) life insurance deductions.

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 832 — Insurance company taxable income

**(a) Definition of taxable income** In the case of an insurance company subject to the tax imposed by section 831, the term “taxable income” means the gross income as defined in subsection (b)(1) less the deductions allowed by subsection (c). **(b) Definitions** In the case of an insurance company subject to the tax imposed by section 831— (1) **Gross income** — The term “gross income” means the sum of— (A) the combined gross amount earned during the taxable year, from investment income and from underwriting income as provided in this subsection, computed on the basis of the underwriting and investment exhibit of the annual statement approved by the National Association of Insurance Commissioners, (B) gain during the taxable year from the sale or other disposition of property, (C) all other items constituting gross income under subchapter B, except that, in the case of a mutual fire insurance company exclusively issuing perpetual policies, the amount of single deposit premiums paid to such company shall not be included in gross income, (D) in the case of a mutual fire or flood insurance company whose principal business is the issuance of policies— (i) for which the premium deposits are the same (regardless of the length of the term for which the policies are written), and (ii) under which the unabsorbed portion of such premium deposits not required for losses, expenses, or establishment of reserves is returned or credited to the policyholder on cancellation or expiration of the policy, an amount equal to 2 percent of the premiums earned on insurance contracts during the taxable year with respect to such policies after deduction of premium deposits returned or credited during the same taxable year, and (E) in the case of a company which wr

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 809 — Untitled legal text

Page 1908 TITLE 26—INTERNAL REVENUE CODE [§ 809 1 Section catchline amended by Pub. L. 115–97 without cor- responding amendment of analysis. 99–514, title XVIII, § 1821(b), (c), Oct. 22, 1986, 100 Stat. 2838; Pub. L. 108–218, title II, § 205(b)(3), Apr. 10, 2004, 118 Stat. 610; Pub. L. 115–97, title I, § 13517(b)(1), Dec. 22, 2017, 131 Stat. 2147.) Editorial Notes REFERENCES IN TEXT The date of enactment of the Tax Reform Act of 1984, referred to in subsec. (f)(4), is the date of enactment of Pub. L. 98–369, div. A, which was approved July 18, 1984. AMENDMENTS 2017—Subsec. (g). Pub. L. 115–97 added subsec. (g). 2004—Subsec. (c). Pub. L. 108–218 reenacted heading without change and amended text generally. Prior to amendment, text read as follows: ‘‘(1) IN GENERAL.—Except as limited by paragraph (2), the deduction for policyholder dividends for any tax- able year shall be an amount equal to the policyholder dividends paid or accrued during the taxable year. ‘‘(2) REDUCTION IN CASE OF MUTUAL COMPANIES.—In the case of a mutual life insurance company, the deduction for policyholder dividends for any taxable year shall be reduced by the amount determined under section 809.’’ 1986—Subsec. (d)(1)(B). Pub. L. 99–514, § 1821(b), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: ‘‘determined at a rate in ex- cess of the prevailing State assumed interest rate for such contract.’’ Subsec. (f). Pub. L. 99–514, § 1821(c), added subsec. (f). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2017 AMENDMENT Amendment by Pub. L. 115–97 applicable to taxable years beginning after Dec. 31, 2017, with transition rule and transition relief, see section 13517(c) of Pub. L. 115–97, set out as a note under section 807 of this

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