Report On The Taxation Of Life Insurance Companies By The Subcommittee On Internal Revenue Taxation Committee On Ways And Means U S House Of Representatives

Author : United States Congress
Publisher : Forgotten Books
ISBN 13 : 9780331054118
Total Pages : 42 pages
Book Rating : 4.0/5 (541 download)

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Download or read book Report on the Taxation of Life Insurance Companies by the Subcommittee on Internal Revenue Taxation, Committee on Ways and Means, U. S. House of Representatives written by United States Congress and published by Forgotten Books. This book was released on 2017-11-14 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Report on the Taxation of Life Insurance Companies by the Subcommittee on Internal Revenue Taxation, Committee on Ways and Means, U. S. House of Representatives: December 31, 1958 For the period 1942 through 1948 what in effect were two different methods of determining the appropriate size'of the reserve deduction for the entire industry were used and then combined into a single industrywide ratio. One method of computing the industrywide, reserve deduction was to determine the average deduction for the entire industry in each prior year. For the 2 years 1949 and 1950, with certain minor adjustments, this was in fact the only method used in computing the ratio. The second element in the 1942 formula applied to total industry reserves of the prior year an assumed interest rate of 314 percent. This deduction, weighted 35 percent, together with the industrywide prior year's experience deduction weighted 65. Percent, then was expressed as a percentage of industrywide invest ment income for the prior year. The percentage so derived was then applied to the individual investment income of each company to determine its individual reserve deduction. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.