
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC843]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                    Subchapter L--Insurance Companies
 
               PART III--PROVISIONS OF GENERAL APPLICATION
 
Sec. 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.

(Added Mar. 13, 1956, ch. 83, Sec. 4(a), 70 Stat. 48; amended Pub. L. 
94-455, title XV, Sec. 1507(b)(2), Oct. 4, 1976, 90 Stat. 1740.)


                               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.
