- 42 - Under- Taxes Interest on Net1 writing Boards & Funds Funds Net Payment Month Premiums Expenses Bureaus2 Withheld3 Withheld to OPL4 Jan. $6,373,502 $76,007 $264,092$6,033,403-0- -0- Feb. 8,379,506 104,700 363,788 7,911,018 $45,453 $45,453 Mar. 7,051,992 96,812 336,380 -0- 113,879 6,732,679 Apr. 6,006,226 89,018 309,300 -0- 142,349 5,750,256 May 5,618,472 89,260 310,139 -0- 113,879 5,332,953 June 7,201,394 109,594 380,792 -0- 113,879 6,824,888 July 5,028,899 82,593 286,976 -0- 146,416 4,805,745 Aug. 7,630,857 117,978 409,924 -0- 109,812 7,212,767 Sept. 5,936,652 94,812 329,431 -0- 142,349 5,654,758 Oct. 5,634,399 100,563 349,413 -0- 113,879 5,298,302 Nov. 7,678,285 38,663 434,621 -0- 113,879 7,318,880 Dec. 5,170,594 -0- 316,730 -0- 126,081 4,979,945 Total 77,710,778 1,000,000 4,091,58613,944,421 1,281,85559,956,626 1This column was arrived at by netting gross income and losses paid. 2This column contains the total amounts included on the bordereau for taxes, board and bureau charges, and Federal excise taxes. 3In 1984, the net amounts to be remitted by NUF to OPL for January and February were withheld in escrow by NUF. 4The "Net Payment to OPL" is calculated by reducing the net premiums shown in column one by expenses, taxes, board and bureau charges, and funds withheld and by increasing that amount by interest on funds withheld. NUF paid Hall $250,000 from the $1 million it received from petitioner as fees. OPL ultimately recorded the funds received in its general ledger. C. FFIC/PIP Fireman's Fund Insurance Co. (FFIC), through a policy sold by Parcel Insurance Plan, Inc. (PIP), since 1966, offered excess value protection for shipments sent via petitioner, the U.S. Postal Service, and other carriers. Most of FFIC/PIP's business came from petitioner's shippers. PIP tried to solicit business from petitioner's shippers who spent at least $1,000 annually forPage: Previous 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 Next
Last modified: May 25, 2011