Minnesota § 290.093 TAX COMPUTATION FOR MUTUAL SAVINGS BANKS CONDUCTING LIFE INSURANCE BUSINESS

Minnesota Statutes

§ 290.093 — TAX COMPUTATION FOR MUTUAL SAVINGS BANKS CONDUCTING LIFE INSURANCE BUSINESS

Minnesota § 290.093

PartVARIOUS STATE TAXES AND PROGRAMS

Ch. 290INCOME AND FRANCHISE TAXES

This text of Minnesota § 290.093 (TAX COMPUTATION FOR MUTUAL SAVINGS BANKS CONDUCTING LIFE INSURANCE BUSINESS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 290.093 (2026).

Text

Mutual savings banks as defined in section 594 of the Internal Revenue Code are subject to a tax computed on the taxable income determined without regard to any items of gross income or deductions properly allocable to the business of the life insurance department, at the rates and in the manner for a corporation not engaged in the business of issuing life insurance contracts.
This section applies only if the life insurance department would, if it were treated as a separate corporation, qualify as a life insurance company under section 816 of the Internal Revenue Code.

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Mutual savings banks as defined in section 594 of the Internal Revenue Code are subject to a tax computed on the taxable income determined without regard to any items of gross income or deductions properly allocable to the business of the life insurance department, at the rates and in the manner for a corporation not engaged in the business of issuing life insurance contracts.
This section applies only if the life insurance department would, if it were treated as a separate corporation, qualify as a life insurance company under section 816 of the Internal Revenue Code.

Legislative History

1987 c 268 art 1 s 55;1988 c 719 art 3 s 12;1989 c 28 s 25;1990 c 604 art 2 s 16;1991 c 291 art 6 s 46;1992 c 511 art 6 s 19;1993 c 375 art 8 s 14;1994 c 587 art 1 s 24;1Sp2001 c 5 art 9 s 18