National Protective Ins. Co. v. Commissioner
United States Board of Tax Appeals
An insurance company, doing a small life insurance business and a large health and accident insurance business, was required by the laws of Missouri to maintain a reserve for the fulfillment of its life insurance contracts. In 1935, it entered into an agreement with the Superintendent of Insurance of the State of Missouri, wherein it agreed to maintain an unearned premium reserve upon its health and accident business.
Read the full summary
An insurance company, doing a small life insurance business and a large health and accident insurance business, was required by the laws of Missouri to maintain a reserve for the fulfillment of its life insurance contracts. In 1935, it entered into an agreement with the Superintendent of Insurance of the State of Missouri, wherein it agreed to maintain an unearned premium reserve upon its health and accident business. During the taxable years, in conformity with the provisions of this agreement, it set aside a portion of the gross premiums on its health and accident contracts in a special…
1Opinion of the Court
*982OPINION.
Mellott :
Respondent has determined that petitioner is taxable as an insurance company other than life or mutual under section 204 of the Revenue Acts of 1934 and 1936. Petitioner contends that it is a life insurance company within the meaning of section 201 (a) of these acts and entitled to be taxed as such. The section relied upon by petitioner, which is the same under each act, is shown in the margin.1
Petitioner contends that the only reserve it maintained during the taxable years was for the fulfillment of its life contracts; that it had no reserve for its health and accident…
2Cases cited4 opinions
- Maryland Casualty Co. v. United StatesSupreme Court of the United States · 1920
- Helvering v. Inter-Mountain Life InsuranceSupreme Court of the United States · 1935
- Inhabitants of Trenton v. Standard Fire Insurance Co.Supreme Court of New Jersey · 1909
- State Ex Rel. Missouri State Life Insurance v. GehnerSupreme Court of Missouri · 1928
3Cited by5 opinions
- Central Reserve Life Corp. v. CommissionerUnited States Tax Court · 1999
- National Protective Ins. v. CommissionerCourt of Appeals for the Eighth Circuit · 1942
- Central Reserve Life Corp. v. CommissionerUnited States Tax Court · 1999
- Central Reserve Life Corporation and Subsidiaries v. CommissionerUnited States Tax Court · 1999
- National Protective Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1941