(B)The adjusted surplus as of the beginning of the organization’s 1st taxable year beginning after, shall be its surplus as of such time. For purposes of the preceding sentence and subsection (c)(3)(C), the term “surplus” means the excess of the total assets over total liabilities as shown on the annual statement.


26 USC § 833(b)(3)(B)

Scoping language

None: Default is title Scope
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