§ 843.
Annual accounting period
For purposes of this subtitle, the annual accounting period for each insurance company subject to a tax imposed by this subchapter shall be the calendar year. Under regulations prescribed by the Secretary, an insurance company which joins in the filing of a consolidated return (or is required to so file) may adopt the taxable year of the common parent corporation even though such year is not a calendar year.
Source
(Added Mar. 13, 1956, ch. 83, § 4(a), 70 Stat. 48; amended Pub. L. 94–455, title XV, § 1507(b)(2),Oct. 4, 1976
, 90 Stat. 1740.)Notes
Amendments
1976—Pub. L. 94–455 inserted provision permitting an insurance company which joins in the filing of a consolidated return to adopt the taxable year of the common parent corporation even though such year is not a calendar year.
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–455 applicable to taxable years beginning after
Dec. 31, 1980
, see section 1507(c)(1) of Pub. L. 94–455, set out as a note under section 1504 of this title.Effective Date
Section applicable only to taxable years beginning after
Dec. 31, 1954
, see Effective Date of 1956 Amendment note set out under section 316 of this title.