exempt insurance income
Defined in 1 place of the United States Code.
The term “exempt insurance income” means income derived by a qualifying insurance company which—
(i) is attributable to the issuing (or reinsuring) of an exempt contract by such company or a qualifying insurance company branch of such company, and
(ii) is treated as earned by such company or branch in its home country for purposes of such country's tax laws.
Source
- 1998–present26 U.S.C. § 953Internal Revenue Code · Insurance income · for purposes of this section