Internal Revenue Code:Sec. 4374. Liability for tax

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle D - Miscellaneous Excise Taxes
       CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS
     

Statute

    Sec. 4374. Liability for tax
 
      The tax imposed by this chapter shall be paid, on the basis of a
    return, by any person who makes, signs, issues, or sells any of the
    documents and instruments subject to the tax, or for whose use or
    benefit the same are made, signed, issued, or sold.  The United
    States or any agency or instrumentality thereof shall not be liable
    for the tax.
 

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 522; Pub. L. 85-859, title I,
    Sec. 141(a), Sept. 2, 1958, 72 Stat. 1301; Pub. L. 89-44, title
    VIII, Sec. 804(a)(1), (2), June 21, 1965, 79 Stat. 160; Pub. L.
    94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1813.)
 

Miscellaneous

                              PRIOR PROVISIONS
      For provisions of prior sections 4375, 4381 to 4384, see Prior
    Provisions note preceding section 4371 of this title.
                                 AMENDMENTS
      1976 - Pub. L. 94-455 substituted in section catchline
    ''Liability for tax'' for ''Payment of tax'' and in text provisions
    relating to payment of tax on basis of a return and to tax-exempt
    status of United States and its agencies and instrumentalities for
    provisions relating to placing of stamps on any policy, indemnity
    bond, or annuity contract referred to in section 4371 and to
    regulation by Secretary that tax be paid on basis of a return.
      1965 - Pub. L. 89-44 substituted ''Payment of tax'' for
    ''Affixing of stamps'' in section catchline, and inserted sentence
    authorizing Secretary or his delegate to provide by regulation for
    payment on basis of a return of tax imposed by section 4371.
      1958 - Pub. L. 85-859 reenacted section without change.
                      EFFECTIVE DATE OF 1976 AMENDMENT
      Amendment by Pub. L. 94-455 effective on first day of first month
    which begins more than 90 days after Oct. 4, 1976, see section
    1904(d) of Pub. L. 94-455, set out as a note under section 4041 of
    this title.
                      EFFECTIVE DATE OF 1965 AMENDMENT
      Section 804(c) of Pub. L. 89-44 provided that: ''The amendments
    made by subsection (a) (amending this section) shall take effect on
    July 1, 1965. The amendments made by subsection (b) (amending
    section 4371 of this title) shall apply with respect to policies,
    bonds, and contracts with respect to which the tax imposed by
    section 4371 of the Code is required to be paid on the basis of a
    return.''
          DETERMINATION OF PARTNERSHIP AS CONTINUING OR TERMINATED
                                PARTNERSHIP
      Section 141(b) of Pub. L. 85-859 mandated that only changes in
    the partnership occurring on or after the effective date specified
    in section 1(c) of Pub. L. 85-859 shall be taken into account in
    the determination of whether a partnership is a continuing or
    terminated one.
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 4371, 7270 of this title.