Examples of VAA in a sentence
We shall have sole and complete ownership and control of all assets in VAA.
Unless a request for withdrawal specifies otherwise, withdrawals will be made from all Subaccounts within the VAA and from the fixed account in the same proportion that the amount of withdrawal bears to the total Contract Value.
However, the Company does expect, to the extent permitted under Federal tax law, to claim the benefit of the foreign tax credit as the owner of the assets of the VAA.
Our audited GAAP financial statements, as well as the financial statements of the VAA, are located in the SAI.
We do not expect that we will incur any Federal income tax liability on the income and gains earned by the VAA.
If Federal income tax law changes and we must pay tax on some or all of the income and gains earned by the VAA, we may impose a charge against the VAA to pay the taxes.Changes in the LawThe above discussion is based on the tax code, IRS regulations, and interpretations existing on the date of this prospectus.
Dividends are not paid out to contractowners as additional units, but are reflected as changes in unit values.Addition, Deletion or Substitution of InvestmentsWe reserve the right, within the law, to make certain changes to the structure and operation of the VAA at our discretion and without your consent.
Such tax withholding requirements are generally applicable to 401(a), 403(a) or (b), HR 10, and 457(b) governmental plans and contracts used in connection with these types of plans.Our Tax StatusUnder existing Federal income tax laws, we do not pay tax on investment income and realized capital gains of the VAA.
These other annuity contracts may have different charges that could affect the performance of their subaccounts, and they offer different benefits.Financial StatementsThe December 31, 2010 financial statements of the VAA and the December 31, 2010 consolidated financial statements of Lincoln Life are located in the SAI.
The other annuity contracts supported by the VAA generally invest in the same funds as the contracts described in this prospectus.