26Title 26The US tax code, read & explained

26 U.S.C. § 801

§ 801. Tax imposed

88 words · amended 3 times · cited by 7 other sections

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No plain-English explainer yet. Below is the official text. Explainers are being added section by section.

The law as written

Current through Public Law 119-102. Amendment notes omitted.

Structure

  1. (a) Tax imposed
  2. (b) Life insurance company taxable income
(a) Tax imposed

A tax is hereby imposed for each taxable year on the life insurance company taxable income of every life insurance company. Such tax shall consist of a tax computed as provided in section 11 as though the life insurance company taxable income were the taxable income referred to in section 11.

(b) Life insurance company taxable income

For purposes of this part, the term “life insurance company taxable income” means—

(1)

life insurance gross income, reduced by

(2)

life insurance deductions.