(a)The issuance, transfer, or exchange of a security, or the making or delivery of an instrument of transfer under a plan confirmed under section
1225 of this title, may not be taxed under any law imposing a stamp tax or similar tax.
(b)The court may authorize the proponent of a plan to request a determination, limited to questions of law, by any governmental unit charged with responsibility for collection or determination of a tax on or measured by income, of the tax effects, under section
346 of this title and under the law imposing such tax, of the plan. In the event of an actual controversy, the court may declare such effects after the earlier of—
(1)the date on which such governmental unit responds to the request under this subsection; or
For repeal of section effective Oct. 1, 1998, and subsequent reenactment of section, see note set out preceding section
1201 of this title.
2005—Subsec. (a). Pub. L. 109–8, § 719(b)(4), redesignatedsubsec. (c) as (a) and struck out former subsec. (a) which read as follows: “For the purpose of any State or local law imposing a tax on or measured by income, the taxable period of a debtor that is an individual shall terminate on the date of the order for relief under this chapter, unless the case was converted under section
706 of this title.”
Subsec. (b). Pub. L. 109–8, § 1003(b), substituted “any governmental unit” for “a State or local governmental unit”.
Pub. L. 109–8, § 719(b)(4), redesignatedsubsec. (d) as (b) and struck out former subsec. (b) which read as follows: “The trustee shall make a State or local tax return of income for the estate of an individual debtor in a case under this chapter for each taxable period after the order for relief under this chapter during which the case is pending.”
Subsecs. (c), (d). Pub. L. 109–8, § 719(b)(4)(B), redesignatedsubsecs. (c) and (d) as (a) and (b), respectively.
Effective Date of 2005 Amendment
Amendment by section 1003(b) ofPub. L. 109–8effective Apr. 20, 2005, and not applicable with respect to cases commenced under this title before Apr. 20, 2005, see section 1003(c) ofPub. L. 109–8, set out as a note under section
1222 of this title.
Amendment by section 719(b)(4) ofPub. L. 109–8effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such effective date, except as otherwise provided, see section 1501 ofPub. L. 109–8, set out as a note under section
101 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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