• State Tax Developments: Captives
  • August 22, 2017 | Authors: Andrew D. Appleby; P. Bruce Wright; Saren Goldner; Dmitrii Gabrielov
  • Law Firm: Eversheds Sutherland (US) LLP - New York Office
  • Captive Insuracne Company Reports

    Recent developments in several key states, including Illinois, New York and Minnesota, may impact many captive insurance companies. These states are moving to include captive insurance companies in corporate income tax combined returns with parents and affiliates. The effect of combination is to disallow the deductions for premiums paid to the captive and tax the captive's investment income.

    In their article for Captive Insurance Company Reports, Eversheds Sutherland attorneys P. Bruce Wright, Saren Goldner, Andrew Appleby and Dmitrii Gabrielov discuss that taxpayers should determine whether their captives are federal qualified and analyze these state tax developments carefully.