Sec. 12-231a. Formation of insurance company affiliate of holding company to evade tax.
Sec. 12-231a. Formation of insurance company affiliate of holding company
to evade tax. If the commissioner finds in respect of an income year that an insurance
company, other than a domestic insurance company, which is an affiliate of an insurance
holding company system that includes a domestic insurance company has been formed
or availed of for the principal purpose of avoidance or evasion of the tax imposed by
this chapter, the commissioner may for purposes of such tax treat such company as if
it were a domestic insurance company. The terms "affiliate" and "insurance holding
company system" shall have the respective meanings given them in section 38a-129.
(P.A. 73-350, S. 7, 27.)
History: P.A. 73-350 effective May 9, 1973, and applicable to income years beginning on or after January 1, 1973.