Source: https://www.law.cornell.edu/uscode/text/26/4371?qt-us_code_tabs=2
Timestamp: 2016-02-10 03:45:14
Document Index: 172369699

Matched Legal Cases: ['§ 4371', '§ 4371', '§ 4371', '§\u202f4371', '§\u202f5', '§\u202f141', '§\u202f3', '§\u202f804', '§\u202f1904', '§\u202f211', '§\u202f10242', '§\u202f7811']

26 U.S. Code § 4371 - Imposition of tax | US Law | LII / Legal Information Institute
U.S. Code › Title 26 › Subtitle D › Chapter 34 › Subchapter A › § 4371 26 U.S. Code § 4371 - Imposition of tax
§ 4371.
Imposition of taxThere is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax at the following rates:
(1) Casualty insurance and indemnity bonds
4 cents on each dollar, or fractional part thereof, of the premium paid on the policy of casualty insurance or the indemnity bond, if issued to or for, or in the name of, an insured as defined in section 4372(d);
(2) Life insurance, sickness, and accident policies, and annuity contracts
1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of life, sickness, or accident insurance, or annuity contract; and
(3) Reinsurance
1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of reinsurance covering any of the contracts taxable under paragraph (1) or (2).
(Aug. 16, 1954, ch. 736, 68A Stat. 521; Mar. 13, 1956, ch. 83, § 5(9), 70 Stat. 49; Pub. L. 85–859, title I, § 141(a), Sept. 2, 1958, 72 Stat. 1300; Pub. L. 86–69, § 3(f)(3), June 25, 1959, 73 Stat. 140; Pub. L. 89–44, title VIII, § 804(b), June 21, 1965, 79 Stat. 160; Pub. L. 94–455, title XIX, § 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812; Pub. L. 98–369, div. A, title II, § 211(b)(23), July 18, 1984, 98 Stat. 757; Pub. L. 100–203, title X, § 10242(c)(3), Dec. 22, 1987, 101 Stat. 1330–423; Pub. L. 101–239, title VII, § 7811(i)(11), Dec. 19, 1989, 103 Stat. 2411.)
For information regarding constitutionality of section 4371 of act Aug. 16, 1954, see Congressional Research Service, The Constitution of the United States of America: Analysis and Interpretation, Appendix 1, Acts of Congress Held Unconstitutional in Whole or in Part by the Supreme Court of the United States.
1989—Par. (2). Pub. L. 101–239 struck out “, unless the insurer is subject to tax under section 842(b)” after “or annuity contract”.
1987—Par. (2). Pub. L. 100–203 substituted “section 842(b)” for “section 813”.
1984—Par. (2). Pub. L. 98–369 substituted “section 813” for “section 819”.
1976—Pub. L. 94–455 substituted in par. (1) “4 cents” for “four cents” and “premium paid” for “premium charged”, in pars. (2) and (3) “1 cent” for “one cent” and “premium paid” for “premium charged”, and struck out provision following par. (3) relating to computation of tax on premium paid in lieu of premium charged.
1965—Pub. L. 89–44 inserted last sentence relating to computation of tax on premium paid in lieu of premium charged.
1959—Par. (2). Pub. L. 86–69 substituted “section 819” for “section 816”.
1958—Pub. L. 85–859 substituted “is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax” for “shall be imposed a tax on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer”.
1956—Par. (2). Act Mar. 13, 1956, substituted “section 816” for “section 807”.
Amendment by Pub. L. 89–44 applicable with respect to policies, bonds, and contracts with respect to which the tax imposed by this section is required to be paid on the basis of a return, see section 804(c) of Pub. L. 89–44, set out as a note under section 4374 of this title.