Case ID: ohio-law-abs_4/html/0740-04.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

No. 941
    HESS (Aud.) v. UNION INS. CO. et
    Nos. 20051-55.
    Supreme Court
    On motion to certify.
    Dock. Aug. 7, 1926;
    4 Abs. 541.
    1157. TAXATION — Can outstanding policies and the reserve for them be considered as debts by an insurance company?
    Attorneys — C. S. Bell, C. S. Durr for Hess; Waite, Schindel & Bayless for Insurance Companies; all of Cincinnati.
   The question involved is the deduction of alleged debts from insurance companies tax return, their contention being that the amount of debts of an insurance company are determined by its outstanding policies in gross, and the reserve for them, and therefore a debt of the company, sections 5327 and 9357 GC. being valid.