### Question
How does the law define insurance income?


### Answer
Under *26 U.S.C. § 953*, **insurance income** is defined as:

> any income which—


(A) is attributable to the issuing (or reinsuring) of an insurance or annuity contract, and


(B) would (subject to the modifications provided by subsection (b)) be taxed under subchapter L of this chapter if such income were the income of a domestic insurance company

#### Citation:
  - *26 U.S.C. § 953*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter N-Tax Based on Income From Sources Within or Without the United States > PART III-INCOME FROM SOURCES WITHOUT THE UNITED STATES > Subpart F-Controlled Foreign Corporations**

