New York Life Insurance v. Burbank

As a preliminary statement in general terms of the question submitted, it may be said to be: Should the term "gross amount of premiums received by it * * * for business done in this state,” in Section 1333, Code Supplement, 1913, requiring insurance companies of plaintiff’s class to pay a tax of 2|4 per cent thereon, be construed to mean the total amount of premiums computed at table or policy rates at their face, or should it be construed to mean that amount less such sums as the company has during the year abated from premiums or paid in cash to policyholders for dividends and surrender…