News by sections

News by region
Issue archives
Archive section
Emerging talent
Emerging talent profiles
Domicile guidebook
Guidebook online
Search site
Features
Interviews
Domicile profiles
Generic business image for news article Image: Shutterstock

20 September 2017
Charlotte
Reporter Becky Butcher

Share this article





NCCIA clarifies 831(b) memo

The North Carolina Captive Insurance Association has issued a statement to clarify a memo discussing the 831(b) tax election and the impact on the state’s captive insurance industry should Congress repeal the election.

In the statement, the NCCIA explained it is “not aware of any specific bill or section of any bill now pending in Congress that would repeal Section 831(b)”.

However, it said “there are ongoing discussions between the Congressional leadership and the White House as to tax reform, and how Congress might fund a major tax cut”.

It stated: “Hopefully, this clarification will assuage any captive industry concerns that Section 831(b) is on the chopping block. It is not.”


Click here to read the full article on the original memo, published in Captive Insurance Times on 14 September.

Subscribe advert
Get in touch
News
More sections
Black Knight Media