26 U.S.C. § 801. Tax imposed

1. (a)
   (a)

   Tax imposed

   A tax is hereby imposed for each taxable year on the life insurance company taxable income of every life insurance company. Such tax shall consist of a tax computed as provided in section 11 as though the life insurance company taxable income were the taxable income referred to in section 11.
2. (b)
   (b)

   Life insurance company taxable income

   For purposes of this part, the term “life insurance company taxable income” means—

   1. (1)
      (b)(1)life insurance gross income, reduced by
   2. (2)
      (b)(2)life insurance deductions.