Tax Judge: Company Did Not Issue Insurance, Reinsurance Contracts

Mealey's (June 19, 2018, 12:08 PM EDT) -- WASHINGTON, D.C. — Because a company did not issue insurance or reinsurance contracts during the tax years at issue, a U.S. tax judge ruled June 18 that it did not receive more than 50 percent of its gross receipts from insurance premiums (Reserve Mechanical Corp. v. Commissioner of Internal Revenue, No. 14545-16, U.S. Tax, 2018 Tax Ct. Memo LEXIS 87)....