National Reserve Ins. Co. v. Commissioner
United States Tax Court
During 1939 and 1940 petitioner was engaged in writing life insurance contracts. Its mortality or reserve fund for the protection of its policyholders was maintained in compliance with its bylaws and insurance contracts and exceeded the reserves required by Arizona law. Petitioner erroneously charged on its books certain minor expense items to its mortality fund during each of the taxable years.
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During 1939 and 1940 petitioner was engaged in writing life insurance contracts. Its mortality or reserve fund for the protection of its policyholders was maintained in compliance with its bylaws and insurance contracts and exceeded the reserves required by Arizona law. Petitioner erroneously charged on its books certain minor expense items to its mortality fund during each of the taxable years. It charged refunds to policyholders and expenses incident to settlement of policy claims against the mortality fund as authorized by Arizona law. None of the charges so made impaired the reserves…
1Opinion of the Court
National Reserve Insurance Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
National Reserve Ins. Co. v. Commissioner
Docket No. 112638
United States Tax Court
6 T.C. 473; 1946 U.S. Tax Ct. LEXIS 266;
March 14, 1946, Promulgated
Decision will be entered for the petitioner.
During 1939 and 1940 petitioner was engaged in writing life insurance contracts. Its mortality or reserve fund for the protection of its policyholders was maintained in compliance with its bylaws and insurance contracts and exceeded the reserves required by Arizona law. Petitioner erroneously charged on its…
Also in this document: Dissent.
2Cases cited5 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Maryland Casualty Co. v. United StatesSupreme Court of the United States · 1920
- Pioneer Mutual Benefit Ass'n v. Corporation CommissionArizona Supreme Court · 1942
- Reliance Ben. Asso. v. CommissionerUnited States Tax Court · 1943
- National Reserve Ins. Co. v. CommissionerUnited States Tax Court · 1946