McCoach v. Insurance Co. of North America

This was an action brought by respondent, a fire and marine insurance company of the State of Pennsylvania, to recover a part of the excise taxes exacted of it- for'the years 1910 and 1911 under the Act of August 5, 1909, c. 6, § 38, 36 Stat. 11, 112. As the case comes here, only two items are in dispute, one for- each of the years mentioned, representing the tax upon amounts added in each of those years to that part of what are called its “reserve funds” that is held against accrued but unpaid losses.

The act imposed upon every insurance company organ ized under the laws of the United States…