### Question
What does commercial annuity mean?


### Answer
**Commercial annuity** has the following meaning in *26 U.S.C. § 3405*:

> an annuity, endowment, or life insurance contract issued by an insurance company licensed to do business under the laws of any State

#### Citation:
  - *26 U.S.C. § 3405*
  - Heading: **Subtitle C-Employment Taxes > CHAPTER 24-COLLECTION OF INCOME TAX AT SOURCE ON WAGES**

