26 U.S. Code § 4701 - Tax on issuer of registration-required obligation not in registered form
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(a) Imposition of tax
In the case of any person who issues a registration-required obligation which is not in registered form, there is hereby imposed on such person on the issuance of such obligation a tax in an amount equal to the product of—
For purposes of this section—
(1) Registration-required obligation
(A) In general
The term “registration-required obligation” has the same meaning as when used in section 163 (f), except that such term shall not include any obligation which—
(B) Certain obligations not included
An obligation is described in this subparagraph if—
(i) there are arrangements reasonably designed to ensure that such obligation will be sold (or resold in connection with the original issue) only to a person who is not a United States person,
Source(Added Pub. L. 97–248, title III, § 310(b)(4)(A),Sept. 3, 1982, 96 Stat. 598; amended Pub. L. 99–514, title XIII, § 1301(j)(5),Oct. 22, 1986, 100 Stat. 2657; Pub. L. 111–147, title V, § 502(e),Mar. 18, 2010, 124 Stat. 108.)
2010—Subsec. (b)(1). Pub. L. 111–147amended par. (1) generally. Prior to amendment, text read as follows: “The term ‘registration-required obligation’ has the same meaning as when used in section 163 (f), except that such term shall not include any obligation required to be registered under section 149 (a).”
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–147applicable to obligations issued after the date which is 2 years after Mar. 18, 2010, see section 502(f) ofPub. L. 111–147, set out as a note under section 149 of this title.
Effective Date of 1986 Amendment
Amendment by Pub. L. 99–514applicable to bonds issued after Aug. 15, 1986, except as otherwise provided, see sections 1311 to 1318 ofPub. L. 99–514, set out as an Effective Date; Transitional Rules note under section 141 of this title.
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