McCoach v. Insurance Co. of North America
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244 U.S. 585 (1917)
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U.S. Supreme Court
McCoach v. Insurance Co. of North America, 244 U.S. 585 (1917)
McCoach v. Insurance Company of North America
Argued Mach 14, 1917
Decided June 11, 1917
244 U.S. 585
A fire and marine insurance company in Pennsylvania is not required to maintain a reserve against unpaid losses by the law of that state (P.L. 1911, p. 607), and therefore amounts added by it to such a reserve may not be deducted in determining the company's taxable net income under § 38 of the Federal Corporation Excise Tax Act of August 5, 1909, c. 6, 36 Stat. 11, 112.
224 F. 657 reversed.
The case is stated in the opinion.