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.
(b) Authorized persons
Subsection (a) shall 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
(2)any person who is engaged in receiving wagers only for or on behalf of persons described in paragraph (1).
Section 109(c)(2) ofPub. L. 97–362provided that: “The amendment made by subsection (b) [amending this section] shall take effect on July 1, 1983.”
Effective Date of 1974 Amendment
Amendment by Pub. L. 93–499effective Dec. 1, 1974, and applicable only with respect to wagers placed on or after such date, see section 3(d)(1) ofPub. L. 93–499, set out as a note under section
4401 of this title.
Persons Engaged in Activities on December 1, 1974, Requiring Payment of Tax; Persons Paying Tax and Registering Before December 1, 1974
“(A) Any person who, on December 1, 1974, is engaged in an activity which makes him liable for payment of the tax imposed by section 4411 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (as in effect on such date) shall be treated as commencing such activity on such date for purposes of such section and section 4901 of such Code.
“(B) Any person who, before December 1, 1974.—
“(i) became liable for and paid the tax imposed by section 4411 of the Internal Revenue Code of 1986 (as in effect on July 1, 1974) for the year ending June 30, 1975, shall not be liable for any additional tax under such section for such year, and
“(ii) registered under section 4412 of such Code (as in effect on July 1, 1974) for the year ending June 30, 1975, shall not be required to reregister under such section for such year.”
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
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Description of Change
Statutes at Large
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