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In years prior to the acquisition by CIGNA of PHC and its
subsidiary companies, PHC and its subsidiaries had filed
consolidated Federal income tax returns, with PHC as the common
parent corporation of the affiliated PHC Group. The PHC Group
operated prepaid dental programs in Florida, New Jersey, and
eastern Pennsylvania.
Consolidated Federal Income Tax Returns of the CIGNA Group
For 1982 through 1985, the consolidated Federal income tax
returns that were filed on behalf of the CIGNA Group included the
companies that constituted members of the former INA Group.
For 1984 and 1985, the consolidated Federal income tax
returns that were filed on behalf of the CIGNA Group also
included the companies that constituted members of the former PHC
Group.
For 1982 through 1985, under a special rule set forth in
section 1504(c) allowing life insurance companies to file
consolidated Federal income tax returns with nonlife affiliated
companies, ConnLife was included as the sole life insurance
company in the above consolidated Federal income tax returns of
the CIGNA Group.
For 1982 through 1985, all of the nonlife companies that
constituted members of the CIGNA Group incurred the following
consolidated net operating losses (CNOL’s), and ConnLife, the
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Last modified: May 25, 2011