Overview of Federal Tax Treatment of Life Insurance Companies And 1988 Interim Treasury Department Report : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the Committee On Ways And Means On September 27, 1988 Jcs-16-88

Cover Overview of Federal Tax Treatment of Life Insurance Companies And 1988 Interim Treasury Department Report : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the Committee On Ways And Means On September 27, 1988 Jcs-16-88
Overview of Federal Tax Treatment of Life Insurance Companies And 1988 Interim Treasury Department Report : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the Committee On Ways And Means On September 27, 1988 Jcs-16-88
United States. Congress. Joint Committee On Taxation
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¥ 19 'able 2. — Life Insurance Company Tax Liability After the 1984 Act: Comparsion of Treasury Estimate of June 1984 with Prelim- ^ inary Results from 1987 Treasury Department Survey L [In billions of dollars] ^ Item 1984 1985 1986 1987 1988 'iscal Years Baseline before 1984 Act..
3.0 4.0 4.3 4.6 5.0 1984 Act Changes -0.5 -0.9 -1.0 -1.1 -1.2 Baseline after 1984 Act 2.5 3.1 3.3 3.5 3.8 'alendar Years Baseline after 1984 Act 3.0 3.2 .
Tax after credits, per it survey^ V Difference between base-
...2.4 2.9 .
r line receipts and i survey -0.6 -0.3 .
ij ^ Includes companies that file separate, life/life consolidated, or life/nonlife msolidated returns. Tax computed after losses and credits from nonlife affiliates.
Source: Department of the Treasury, Interim Report to The Congress on Life isurance Company Taxation (June 1988), pp. 12, 15.
The Treasury Department's baseline receipts forecast for the life isurance industry immediately after the 1984 Act may be com- ared with taxes paid by the life insurance industry in 1984 and )85, as determined in the Treasury Report.


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