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26 U.S.C. § 4371 — Imposition of tax

submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 143 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

There is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax at the following rates:

(1) Casualty insurance and indemnity bonds

4 cents on each dollar, or fractional part thereof, of the premium paid on the policy of casualty insurance or the indemnity bond, if issued to or for, or in the name of, an insured as defined in section 4372(d);

(2) Life insurance, sickness, and accident policies, and annuity contracts

1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of life, sickness, or accident insurance, or annuity contract; and

(3) Reinsurance

1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of reinsurance covering any of the contracts taxable under paragraph (1) or (2).

Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 521; Mar. 13, 1956, ch. 83, § 5(9), 70 Stat. 49; Pub. L. 85–859, title I, § 141(a), Sept. 2, 1958, 72 Stat. 1300; Pub. L. 86–69, § 3(f)(3), June 25, 1959, 73 Stat. 140; Pub. L. 89–44, title VIII, § 804(b), June 21, 1965, 79 Stat. 160; Pub. L. 94–455, title XIX, § 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812; Pub. L. 98–369, div. A, title II, § 211(b)(23), July 18, 1984, 98 Stat. 757; Pub. L. 100–203, title X, § 10242(c)(3), Dec. 22, 1987, 101 Stat. 1330–423; Pub. L. 101–239, title VII, § 7811(i)(11), Dec. 19, 1989, 103 Stat. 2411.)

history & why it existsrecord from the source credit
  • 1954Enacted · Act of Aug. 16, 1954, ch. 736
  • 1956Amended · Act of Mar. 13, 1956, ch. 83 · 70 Stat. 49
  • 1958Amended · Pub. L. 85-859 · 72 Stat. 1300
  • 1959Amended · Pub. L. 86-69 · 73 Stat. 140
  • 1965Amended · Pub. L. 89-44 · 79 Stat. 160
  • 1976Amended · Pub. L. 94-455 · 90 Stat. 1812
  • 1984Amended · Pub. L. 98-369 · 98 Stat. 757
  • 1987Amended · Pub. L. 100-203 · 101 Stat. 1330
  • 1989Amended · Pub. L. 101-239 · 103 Stat. 2411

A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.

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