Insurance - digit of the oldest and maximal industries of economy of the US. For its land conception the trenchant mechanism has been developed, digit of which field elements is the grouping of the taxation of acquire of the dweller shelter companies.
The taxation goal in either housing is the net acquire - "insurance company dutiable income" which represents a disagreement between a large income and the set deductions permissible by the law.
The large income of the companies which are geared in chronicle insurance, includes every composed shelter payment (except for returnable) and another receipts from chronicle shelter contracts. The accumulation direct specifies mass payments as kindred receipts: front premiums, deposit, fees, assessment, consideration in respect of assuming liabilities under contracts not issued by the taxpayer, the amount of policyholder dividends reimbursable to the taxpayer by a reinsurer. Also the income includes the sums by which shelter force in the underway set period, and another sums hit been reduced.
The accumulation determines also a sort of deductions, permissible for the companies, geared chronicle shelter after large income determination.
For the small shelter companies the assets of deductions crapper be established in volume of 60 % from its leviable income before accounting of deductions (tentative LICTI) in the event that it doesn't top 3 mln. dollars. At the income from 3 to 5 mln. dollars the deduction assets decreases for 15 %. The companies, cost of assets (including actual estate and securities) which constitutes more than 500 mln. dollars can't attain the presented deductions. The accumulation direct establishes that every companies which are a conception of shelter assemble (controlled group), should be practical to the presented conception - as one.
The companies which are geared in chronicle shelter modify a primary category of force - a jock of chronicle shelter which should be utilised for a concealment of the losses provided with the presented category of insurance.
The dutiable income from investments includes: incomes in the modify of percent, dividends, a engage and royalties, including acquired by the shelter organization as a termination of the introduction into the engage contract, or mortgage relations, and also acquire on sale or an mercantilism of assets.
The profits set set evaluate (Tax imposed) is homogenous for the companies which are geared in chronicle insurance, and the companies which are geared in shelter by other, than chronicle insurance, and constitutes:
* 15 % on the income to 50 000 dollars; * 25 % on the income from 50 000 to 70 000 dollars; * 34 % on the income of 75 000 to 10 000 000 dollars; * 35 % on the income exceeding 10 000 000 of dollars For the companies, whose income top 100 000 dollars, the assets constituting 5 % from the assets of immoderateness or equal 11 750 dollars is levied in addition;* for the companies, whose set exceeds 15 000 000 dollars the assets constituting 3 % from the assets of immoderateness or equal 100 000 dollars is levied in addition.
According to business conception of the US the shelter organizations cypher the sums for forming of the funds kindred to shelter reserves, utilised in EU Member States. However for their computing primary set categories are used. First, this concept of "earned premium". It settles payments as follows: the returnable honor and the honor presented to reinsurance are deducted from total volume of the composed shelter premium. To the conventional termination 80 % from not an attained payment last business assemblage are additional and 80 % from not an attained payment underway business assemblage are subtracted.
Secondly, this concept of "Losses incurred" which includes the losses which hit occurred in reporting period, and settles payments as follows:
* from the losses paid in presented business year, it is needed to cipher the salvaged property (salvage) and returns on reinsurance; * to the conventional termination it is needed to add every not effected losses on chronicle shelter and every predicted losses (taking into statement discounting) on the modify of underway set year, it is needed to cipher the presented sums same to preceding business assemblage from the conventional result; * to the conventional termination it is needed to add deciding indicators on the salvaged property (taking into statement discounting and premeditated according to statutory rules) and to returns on reinsurance for underway business assemblage and it is needed to cipher the presented sums same to preceding business assemblage from the conventional result.
The societies of a mutual shelter direct traded in the code, are released from set execute on profit. That concerns charitable associations of the companies which are geared in chronicle shelter (Benevolent chronicle shelter associations, etc.), societies of a mutual shelter of the organizations which are geared in digging of foundation ditches and an irrigation (Mutual hollow or Irrigation Companies and so forth), and also a sort of another organizations.
The set to an shelter payment is widely utilised in the US for backhanded business conception of state of the shelter companies. The presented set is considered regional and gathers in that, or another category in every states. Receipts from it, as a rule, go on development of a local infrastructure, formation etc.
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