### Question
Can you define what FDIC premium means?


### Answer
**FDIC premium** is defined as the following in *26 U.S.C. § 162*:

> any assessment imposed under section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b))

#### Citation:
  - *26 U.S.C. § 162*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

