26 U.S.C. § 594
Alternative tax for mutual savings banks conducting life insurance business
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
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- Citation
- 26 U.S.C. § 594, Alternative tax for mutual savings banks conducting life insurance business, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462592
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Full text
In the case of a mutual savings bank not having capital stock represented by shares, authorized under State law to engage in the business of issuing life insurance contracts, and which conducts a life insurance business in a separate department the accounts of which are maintained separately from the other accounts of the mutual savings bank, there shall be imposed in lieu of the tax imposed by section 11, a tax consisting of the sum of the partial taxes determined under paragraphs (1) and (2):
Subsection (a) shall apply only if the life insurance department would, if it were treated as a separate corporation, qualify as a life insurance company under section 816.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Deficit Reduction Act of 1984House: no recorded tallySenate: no recorded tally
- An act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.