If an insurance or reinsurance company qualifies for federal taxation under IRC section 831(b), then the only federal income tax it will pay is a tax on investment income. Underwriting profits are not taxed. This allows the insurer to develop its insurance reserves.
About the Author: Josh Miner
Involved in the financial services industry for over twenty years, Josh is a nationally known sales and marketing coach for financial advisors and Managing Partner of Spike Sales, LLC, located in Dana Point, California.
Spike Sales provides comprehensive sales and marketing solutions for financial professionals. Josh has been a speaker and content provider for the Fortress and is our Marketing Director. Fortress partners with Spike Sales to handle the management of the day to day marketing functions. Spike Sales team oversees advisor support, web technology management, business development and many other valuable functions needed in today's ever-changing marketplace.