§815 — Repealed. Pub. L. 115–97, title I, § 13514(a), Dec. 22, 2017, 131 Stat. 2143]
24 cases·5 followed·1 distinguished·1 questioned·4 overruled·13 cited—21% support
Statute Text — 26 U.S.C. §815
[§ 815. Repealed. Pub. L. 115–97, title I, § 13514(a), Dec. 22, 2017, 131 Stat. 2143] Section, added Pub. L. 98–369, div. A, title II, § 211(a), July 18, 1984, 98 Stat. 747; amended Pub. L. 99–514, title X, § 1011(b)(10), title XVIII, § 1821(k)(1), (2), Oct. 22, 1986, 100 Stat. 2389, 2841; Pub. L. 100–647, title I, § 1010(j)(1), Nov. 10, 1988, 102 Stat. 3456; Pub. L. 108–357, title VII, § 705(a), Oct. 22, 2004, 118 Stat. 1549; Pub. L. 113–295, div. A, title II, § 221(a)(41)(G), Dec. 19, 2014, 128 Stat. 4044, related to distributions to shareholders from pre-1984 policyholders surplus account. A prior section 815, added Pub. L. 86–69, § 2(a), June 25, 1959, 73 Stat. 129; amended Pub. L. 87–790, § 3(b), Oct. 10, 1962, 76 Stat. 808; Pub. L. 87–858, § 3(b)(4), (e), Oct. 23, 1962, 76 Stat. 1137; Pub. L. 88–571, §§ 2, 3(a), 4(a), Sept. 2, 1964, 78 Stat. 857, 859; Pub. L. 90–225, § 4(a), (b), Dec. 27, 1967, 81 Stat. 733, 734; Pub. L. 91–172, title IX, § 907(b), Dec. 30, 1969, 83 Stat. 715; Pub. L. 94–331, § 1(a), June 30, 1976, 90 Stat. 781; Pub. L. 94–455, title XIX, §§ 1901(b)(1)(O), (24), (33)(H), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1791, 1798, 1801, 1834, contained provisions similar to this section, prior to the general revision of this part by Pub. L. 98–369, § 211(a). Statutory Notes and Related Subsidiaries Effective Date of RepealRepeal applicable to taxable years beginning after Dec. 31, 2017, see section 13514(c) of Pub. L. 115–97, set out as an Effective Date of 2017 Amendment note under section 801 of this title.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §1.815-1 Taxable years affected
- Treas. Reg. §Treas. Reg. §1.815-2 Distributions to shareholders
- Treas. Reg. §Treas. Reg. §1.815-2(a) In general.
- Treas. Reg. §Treas. Reg. §1.815-2(b) Priority system for distributions to shareholders.
- Treas. Reg. §Treas. Reg. §1.815-2(c) Distributions to shareholders defined.
- Treas. Reg. §Treas. Reg. §1.815-2(i) Distributions shall be treated as first being made out of the shareholders surplus account (as defined in section 815(b) and § 1.
- Treas. Reg. §Treas. Reg. §1.815-3 Shareholders surplus account
- Treas. Reg. §Treas. Reg. §1.815-3(a) In general.
- Treas. Reg. §Treas. Reg. §1.815-3(b) Additions to shareholders surplus account.
- Treas. Reg. §Treas. Reg. §1.815-3(c) Subtractions from shareholders surplus account—(1) In general.
- Treas. Reg. §Treas. Reg. §1.815-3(d) Illustration of principles.
- Treas. Reg. §Treas. Reg. §1.815-3(i) §1.815-3(i)
- Treas. Reg. §Treas. Reg. §1.815-4 Policyholders surplus account
- Treas. Reg. §Treas. Reg. §1.815-4(a) §1.815-4(a)
- Treas. Reg. §Treas. Reg. §1.815-4(b) §1.815-4(b)
- Treas. Reg. §Treas. Reg. §1.815-4(c) §1.815-4(c)
- Treas. Reg. §Treas. Reg. §1.815-4(d) Illustration of principles.
- Treas. Reg. §Treas. Reg. §1.815-4(e) Special rule for 1959 and 1960.
- Treas. Reg. §Treas. Reg. §1.815-4(i) §1.815-4(i)
- Treas. Reg. §Treas. Reg. §1.815-5 Other accounts defined
- Treas. Reg. §Treas. Reg. §1.815-6 Special rules
- Treas. Reg. §Treas. Reg. §1.815-6(a) Election to transfer amounts from policyholders surplus account to shareholders surplus account—(1) In general.
- Treas. Reg. §Treas. Reg. §1.815-6(b) Termination as life insurance company—(1) Effect of termination.
- Treas. Reg. §Treas. Reg. §1.815-6(c) Treatment of certain indebtedness.
- Treas. Reg. §Treas. Reg. §1.815-6(d) Limitation on amount in policyholders surplus account—(1) In general.
24 Citing Cases
Compare Deficit Reduction Act § 141(b) (the pre-AJCA section 6707 penalty), with AJCA §§ 815(c), 816(c), 118 Stat.
The CTI for the consolidated group is the sum of: (1) Nonlife cti, as set off by allowable life losses; (2) consolidated partial life insurance company taxable income (licti), as set off by allowable life losses; and (3) amounts subtracted under section 815 from life policyholders’ surplus accounts (phase 3 income).
s tax liability, before any NOL deduction, would include the following: Tax Item 1987 1989 Taxable income of nonlife subgroup 1$1,538,315,230 2($691,736,003) Partial taxable income of life subgroup 3 214,881,622 4 261,624,770 Amount subtracted under sec. 815 0 0 1 An environmental tax deduction of $2,368,957 is taken into account in the figure stated. The parties agree that the precise amount of the deduction will depend upon the resolution of this case. 2 An environmental tax deduction of $0 is
’s tax liability, before any NOL deduction, would include the following: Tax item 1987 1989 Taxable income of nonlife subgroup 1$1,538,315,230 2($691,736,003) Partial taxable income of life subgroup 3214,881,622 4 261,624,770 Amount subtracted under sec. 815 -0--0- 1 An environmental tax deduction of $2,368,957 is taken into account in the figure stated. The parties agree that the precise amount of the deduction will depend upon the resolution of this case. 2 An environmental tax deduction of ze