Superior Life Insurnce v. United States

HEMPHILL, District Judge.

Plaintiff institutes this suit for substantial tax refunds. The outcome is dependent upon whether the plaintiff qualifies as a “life insurance company” under Section 801 of the Internal Revenue Code of 1954.1 If the plaintiff is entitled to be taxed as a life insurance company it is entitled to the relief sought.

Section 801, in defining life insurance companies, provides in part language pertinent to this consideration:(a) Life insurance company defined. — For purposes of this subtitle, the term “life insurance company” means an insurance company which is engaged in…