Over the last few weeks, we have addressed the “Tax Extenders” bill titled H.R. 34. As noted, this new legislation included Section 262 titled, “MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES.” These modifications impact small captive insurance companies (CICs) that make an 831(b) tax election (CLICK HERE to read about H.R. 34 and Section 262).
We noted that the legislation’s “diversification requirements” have created quite a stir Continue Reading