WASHINGTON–Legislation introduced in the House last week would increase the attachment point for investment income taxes on small property-casualty insurance companies.
The National Association of Mutual Insurance Companies said the legislation concerns Sec. 831(b) of the Internal Revenue Code. No bill number has as yet been assigned.
This provision allows small property-casualty insurers with direct or net written annual premiums not exceeding $1.2 million to be taxed on their net investment incomes.
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