26 U.S.C. § 4411 — Imposition of tax
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 103 words · no verdicts yet
This section addresses Imposition of tax. It states the definitions, duties, powers, limits, procedures, or other rules set out in the section.
(a) In general There must be imposed a special tax of $500 per year to be paid by each person who is liable for the tax imposed under section 4401 or who is engaged in receiving wagers for or on behalf of any person so liable. (b) Authorized persons Subsection (a) must be applied by substituting “$50” for “$500” in the case of— (1) any person whose liability for tax under section 4401 is determined only under paragraph (1) of section 4401(a), and (2) any person who is engaged in receiving wagers only for or on behalf of persons described in paragraph (1).
There shall be imposed a special tax of $500 per year to be paid by each person who is liable for the tax imposed under section 4401 or who is engaged in receiving wagers for or on behalf of any person so liable.
Subsection (a) shall be applied by substituting “$50” for “$500” in the case of—
any person whose liability for tax under section 4401 is determined only under paragraph (1) of section 4401(a), and
any person who is engaged in receiving wagers only for or on behalf of persons described in paragraph (1).
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 527; Pub. L. 93–499, § 3(b), Oct. 29, 1974, 88 Stat. 1550; Pub. L. 97–362, title I, § 109(b), Oct. 25, 1982, 96 Stat. 1731.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1974Amended · Pub. L. 93-499 · 88 Stat. 1550
- 1982Amended · Pub. L. 97-362 · 96 Stat. 1731
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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