North W. Life Assur. Co. of Can. v. Commissioner
United States Tax Court
P, a Canadian insurance company, operated through a permanent establishment in the United States for purposes of the income tax convention between the United States and Canada. P reported its net investment income effectively connected with its conduct of an insurance business within the United States pursuant to sec. 842(a), I.R.C., without regard to the minimum amount of net investment income that sec. 842(b), I.R.C., treated as effectively connected.
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P, a Canadian insurance company, operated through a permanent establishment in the United States for purposes of the income tax convention between the United States and Canada. P reported its net investment income effectively connected with its conduct of an insurance business within the United States pursuant to sec. 842(a), I.R.C., without regard to the minimum amount of net investment income that sec. 842(b), I.R.C., treated as effectively connected. P claimed under the Convention With Respect to Taxes on Income and on Capital, Sept. 26, 1980, U.S.-Can., T.I.A.S. No. 11087, 1986-2 C.B. 258…
1Opinion of the Court
Hamblen, Judge:
Respondent determined deficiencies in petitioner’s Federal income and branch profits tax for the taxable years 1988, 1989, and 1990, in the amounts of $518,102, $23,730, and $71,662, respectively.
Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the taxable years at issue, and all Rule references are to the Tax Court Rules of Practice and Procedure. The sole issue for decision is whether the Convention and Protocols Between the United States and Canada With Respect to Taxes on Income and Capital, Sept. 26, 1980, T.I.A.S. No. 11087…
2Cases cited22 opinions
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- Reid v. CovertSupreme Court of the United States · 1957
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- United States v. RauscherSupreme Court of the United States · 1886
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