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Code of Federal Regulations Title 26. Internal Revenue § 26.46.4371–3 Rate and computation of tax

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) Rate of tax.(1) The tax under section 4371(1) is imposed at the rate of 4 cents on each dollar, or fractional part thereof, of the premium payment.

(2) The tax under section 4371(2) and (3) is imposed at the rate of 1 cent on each dollar, or fractional part thereof, of the premium payment.

(b) Meaning of premium payment.For purposes of this subpart, the term “premium payment” means the consideration paid for assuming and carrying the risk or obligation, and includes any additional assessment or charge paid under the contract, whether payable in one sum or installments.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 26. Internal Revenue § 26.46.4371–3 Rate and computation of tax - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-26-internal-revenue/cfr-sect-26-46-4371-3/

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