Description: Various insurer corporate tax issues are discussed as well as some court cases involving insurer taxes, including the recent USAA Life case involving preliminary term reserves on universal life business. First part of two-part Session 6 of the 1991 Valuation Actuary Symposium. See 'The New DAC Tax' for second part with presentations by Sikora or Eldridge.

Description: Discusses the implications of the recent Tax Reform Act of 1986 [TRA] and proposed tax laws, and the effect of tax law on financial-performance measures, GAAP reporting, investment strategy, and even corporate structure. From the 1987 Record of Society of Actuaries, Vol. 13, No. 3.