What is a micro-captive?
There is a provision in the code, Section 831(b), that allows certain insurance companies with premiums under a certain threshold to not pay tax on their insurance premiums. They have an exemption on their income for those insurance premiums and then they pay tax just on the earnings in the insurance company. This has resulted in somewhat of a cottage industry that has been setting up micro-captive insurance companies basically for privately held businesses. The kinds of insurance that they create through these arrangements are called enterprise risks. This video reviews the IRS’s view of these companies and provides case law examples.
Agenda
Faculty
Jennifer Benda
Hall Estill
- Partner with Fox Rothschild LLP
- Former certified public accountant who focuses her practice on tax controversy, tax compliance and tax planning for clients with difficult and sophisticated tax issues
- Extensive experience handling cases involving IRS focused compliance regimes including for clients who invested in listed transactions, conservation easements, captive insurance arrangements, and clients who own marijuana businesses
- Experience as a CPA makes her uniquely qualified to address the issues of the marijuana industry, which are a unique blend of accounting and legal considerations
- Counsels accountants faced with professional liability issues
- J.D. degree, with honors, George Washington University Law School; M.S. and B.B.A. degrees in accounting, Texas A&M University
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