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In private letter ruling, IRS says captive reinsurance of fronted pools is “insurance” for tax purposes
- Edwards Wildman Palmer LLP
- -
- USA
- -
- January 4 2010
The Internal Revenue Service (IRS) issued a private letter ruling on December 11, 2009, resolving a taxpayer’s question as to whether its business as a captive reinsurer is "insurance" for tax purposes
Health care legislation imposes tax on annuity income
- Edwards Wildman Palmer LLP
- -
- USA
- -
- April 26 2010
The Health Care and Reconciliation Act (the "Act"), signed into law on March 30, 2010, imposes a tax on annuity income to help pay for the multi-billion dollar reform package set forth in both the Act and the Patient Protection and Affordable Care Act, signed into law on March 23, 2010
Rhode Island 2011 budget - tax implications for surplus lines insurers and medical malpractice joint underwriters association
- Edwards Wildman Palmer LLP
- -
- USA
- -
- June 16 2010
The 2011 Rhode Island state budget, which was enacted as HB 7397A and signed into law June 2, 2010, amends the taxation statutes applicable to surplus lines insurers and the Medical Malpractice Joint Underwriters Association
Obama proposes budget that would end foreign reinsurer tax advantages
- Edwards Wildman Palmer LLP
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- USA
- -
- February 3 2010
President Barack Obama’s recently released proposed Budget of the U.S. Government for the Fiscal Year 2011 (the “Proposed 2011 Budget”) would disallow the deduction for excess non-taxed reinsurance premiums paid to foreign affiliates by a U.S. insurance company
New York Insurance Department considering requesting lower federal tax rate
- Edwards Wildman Palmer LLP
- -
- USA
- -
- March 8 2010
According to media reports, New York Insurance Department (the “Department”) Superintendent James Wrynn announced at a membership meeting of the Association of Insurance & Reinsurance Run-Off Companies (AIRROC) that the Department’s tax working group is reviewing whether a revived New York Insurance Exchange (the “Exchange”) should request a lower federal corporate tax rate
German government opposes US legislation limiting deductibility of reinsurance premiums
- Edwards Wildman Palmer LLP
- -
- Germany, USA
- -
- July 28 2010
Proposed legislation that would limit a tax deduction for reinsurance premiums paid to a foreign affiliate of a US insurer has drawn the formal opposition of the German government
Current Search
- Jurisdiction - USA
- Workarea - Insurance & Reinsurance
- Workarea - Corporate Tax
- Author - M Machua Millett