10th Circuit Upholds Denial Of Purported Captive Insurer’s Tax Status Challenge

Mealey's (May 16, 2022, 12:27 PM EDT) -- DENVER — Affirming that a company organized as a captive insurer was not an insurer and therefore not exempt from income tax, a 10th Circuit U.S. Court of Appeals panel on May 13 held not that forms of transactions in the case — such as a risk-pooling reinsurance arrangement — are improper, but that the U.S. Tax Court “could properly conclude that they were not insurance transactions in substance.”...

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