Ohio Farmers Indem. Co. v. Commissioner
United States Board of Tax Appeals
1. A mutual fire insurance company does not lose its identity as such and become a stock fire insurance company where pursuant to statutory authorization it issues policies of insurance only in consideration of cash premiums ascertained and payable in advance, even though the policies are nonassessable and carry no contingent liability for additional premiums. 2. A mutual fire insurance company may not file a consolidated return with an insurance company subject to tax under…
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1. A mutual fire insurance company does not lose its identity as such and become a stock fire insurance company where pursuant to statutory authorization it issues policies of insurance only in consideration of cash premiums ascertained and payable in advance, even though the policies are nonassessable and carry no contingent liability for additional premiums. 2. A mutual fire insurance company may not file a consolidated return with an insurance company subject to tax under the provisions of section 204 of the Revenue Act of 1932.
1Opinion of the Court
OHIO FARMERS INDEMNITY COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Ohio Farmers Indem. Co. v. Commissioner
Docket No. 80116.
United States Board of Tax Appeals
36 B.T.A. 1152; 1937 BTA LEXIS 620;
December 15, 1937, Promulgated
1. A mutual fire insurance company does not lose its identity as such and become a stock fire insurance company where pursuant to statutory authorization it issues policies of insurance only in consideration of cash premiums ascertained and payable in advance, even though the policies are nonassessable and carry no contingent liability for additional…
2Cases cited10 opinions
- Union Insurance v. HogeSupreme Court of the United States · 1859
- Mygatt v. . New York Protection Insurance CompanyNew York Court of Appeals · 1860
- Davis v. Parcher & J. & A. Stewart Co.Wisconsin Supreme Court · 1892
- Given v. RettewSupreme Court of Pennsylvania · 1894
- Buck v. RossSouth Dakota Supreme Court · 1932
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