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Are group term life insurance proceeds taxable to the employer if the policy is on a CEO?
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Let’s say company A takes a policy of on a CEO. They pay 40,000 in premiums and CEO collects 10,000 in premiums. Upon CEO’s death company A collects 1,500,000 and CEO’s wife receives 100,000 from life insurance proceeds. What are the tax effects to company A and CEO’s wife?
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