26 U.S.C. § 4371
§ 4371. Imposition of tax
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Part of the code since 1954. Last changed December 19, 1989 by the Omnibus Budget Reconciliation Act of 1989.
Every change, newest first (9)
- December 19, 1989Omnibus Budget Reconciliation Act of 1989
- December 22, 1987Omnibus Budget Reconciliation Act of 1987
- July 18, 1984Deficit Reduction Act of 1984
- October 4, 1976Tax Reform Act of 1976
- June 21, 1965Public Law 89-44
- June 25, 1959Public Law 86-69
- September 2, 1958Technical Amendments Act of 1958
- March 13, 1956Internal Revenue Code of 1954 (original text)
- August 16, 1954Internal Revenue Code of 1954 (original text)
The law as written
Current through Public Law 119-102. Amendment notes omitted.
There 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:
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);
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
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).