26 U.S.C. § 4701 — Tax on issuer of registration-required ob-

Page 3008 TITLE 26—INTERNAL REVENUE CODE § 4701 cling requirement for imported halon under section 4682(d)(1) of the Internal Revenue Code of 1986, as amended by paragraph (1).’’ DEPOSITS FOR FIRST QUARTER OF 1991 Pub. L. 101–508, title XI, § 11203(f), Nov. 5, 1990, 104 Stat. 1388–423, provided that: ‘‘No deposit of any tax im- posed by subchapter D of chapter 38 of the Internal Revenue Code of 1986 on any substance treated as an ozone-depleting chemical by reason of the amendment made by subsection (a)(1) [amending this section] shall be required to be made before April 1, 1991.’’ CHAPTER 39—REGISTRATION-REQUIRED OBLIGATIONS Sec. 4701. Tax on issuer of registration-required obliga- tion not in registered form. Editorial Notes PRIOR PROVISIONS The provisions of a prior chapter 39, Regulatory Taxes, were set out as: Subchapter A, Narcotic Drugs and Marihuana, com- prising sections 4701 to 4707, 4711 to 4716, 4721 to 4726, 4731 to 4736, 4741 to 4746, 4751 to 4757, 4761, 4762, and 4771 to 4776. Subchapter B, White phosphorus matches, com- prising sections 4801 to 4806. Subchapter C, Adulterated butter and filled cheese, comprising sections 4811 to 4819, 4821, 4822, 4826, 4831 to 4836, 4841, 4842, and 4846. Subchapter D, Cotton futures, comprising sections 4851 to 4854, 4861 to 4865, and 4871 to 4877. Subchapter E, Circulation other than of national banks, comprising sections 4881 to 4886. Subchapter F, Silver bullion, comprising sections 4891 to 4897. Prior sections 4701 to 4897 were based on act Aug. 16, 1954, ch. 736, 68A Stat. 549–592, as amended. Sections 4701–4776 were repealed by Pub. L. 91–513, title III, § 1101(b)(3)(A), Oct. 27, 1970, 84 Stat. 1292. See section 801 et seq. of Title 21, Food and Drugs. Sections 4801–4826, 4851–4873, and 4875–4886 were re- pealed by Pub. L. 94–455, title XIX, §§ 1904(a)(16)–(18), 1952(b), Oct. 4, 1976, 90 Stat. 1814, 1841. Sections 4831–4834 and 4836–4846 were repealed by Pub. L. 93–490, § 3(a)(1), Oct. 26, 1974, 88 Stat. 1466. Section 4835 was repealed by Pub. L. 85–881, § 1(b)(1), Sept. 2, 1958, 72 Stat. 1704. Section 4874 was repealed by Pub. L. 91–452, title II, § 231(a), Oct. 15, 1970, 84 Stat. 930. Sections 4891–4897 were repealed by Pub. L. 88–36, title II, § 201(a), June 4, 1963, 77 Stat. 54. AMENDMENTS 1982—Pub. L. 97–248, title III, § 310(b)(4)(A), Sept. 3, 1982, 96 Stat. 597, added chapter heading and section analysis. § 4701. Tax on issuer of registration-required ob- ligation not in registered form (a) Imposition of tax In the case of any person who issues a reg- istration-required obligation which is not in reg- istered form, there is hereby imposed on such person on the issuance of such obligation a tax in an amount equal to the product of— (1) 1 percent of the principal amount of such obligation, multiplied by (2) the number of calendar years (or portions thereof) during the period beginning on the date of issuance of such obligation and ending on the date of maturity. (b) Definitions For purposes of this section— (1) Registration-required obligation (A) In general The term ‘‘registration-required obliga- tion’’ has the same meaning as when used in section 163(f), except that such term shall not include any obligation which— (i) is required to be registered under sec- tion 149(a), or (ii) is described in subparagraph (B). (B) Certain obligations not included An obligation is described in this subpara- graph 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, (ii) interest on such obligation is payable only outside the United States and its pos- sessions, and (iii) on the face of such obligation there is a statement that any United States per- son who holds such obligation will be sub- ject to limitations under the United States income tax laws. (2) Registered form The term ‘‘registered form’’ has the same meaning as when used in section 163(f). (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.) Editorial Notes AMENDMENTS 2010—Subsec. (b)(1). Pub. L. 111–147 amended 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 re- quired to be registered under section 149(a).’’ 1986—Subsec. (b)(1). Pub. L. 99–514 substituted ‘‘sec- tion 149(a)’’ for ‘‘section 103(j)’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–147 applicable to obliga- tions issued after the date which is 2 years after Mar. 18, 2010, see section 502(f) of Pub. L. 111–147, set out as a note under section 149 of this title. EFFECTIVE DATE OF 1986 AMENDMENT Amendment by Pub. L. 99–514 applicable to bonds issued after Aug. 15, 1986, except as otherwise provided, see sections 1311 to 1318 of Pub. L. 99–514, set out as an Effective Date; Transitional Rules note under section 141 of this title. EFFECTIVE DATE Section applicable to obligations issued after Dec. 31, 1982, with an exception for certain warrants, see section 310(d)(1), (3) of Pub. L. 97–248, set out as an Effective Date of 1982 Amendment note under section 103 of this title. Page 3009 TITLE 26—INTERNAL REVENUE CODE § 4905 CHAPTER 40—GENERAL PROVISIONS RELATING TO OCCUPATIONAL TAXES Sec. 4901. Payment of tax. 4902. Liability of partners. 4903. Liability in case of business in more than one location. 4904. Liability in case of different businesses of same ownership and location. 4905. Liability in case of death or change of loca- tion. 4906. Application of State laws. 4907. Federal agencies or instrumentalities. § 4901. Payment of tax (a) Condition precedent to carrying on certain business No person shall be engaged in or carry on any trade or business subject to the tax imposed by section 4411 (wagering) until he has paid the spe- cial tax therefor. (b) Computation All special taxes shall be imposed as of on the first day of July in each year, or on commencing any trade or business on which such tax is im- posed. In the former case the tax shall be reck- oned for 1 year, and in the latter case it shall be reckoned proportionately, from the first day of the month in which the liability to a special tax commenced, to and including the 30th day of June following. (Aug. 16, 1954, ch. 736, 68A Stat. 593; Pub. L. 89–44, title IV, § 405(b), June 21, 1965, 79 Stat. 149; Pub. L. 91–513, title III, § 1102(a), Oct. 27, 1970, 84 Stat. 1292; Pub. L. 94–455, title XIX, § 1904(a)(19), Oct. 4, 1976, 90 Stat. 1814; Pub. L. 95–600, title V, § 521(c)(2), Nov. 6, 1978, 92 Stat. 2884.) Editorial Notes AMENDMENTS 1978—Subsec. (a). Pub. L. 95–600 struck out ‘‘or 4461(a)(1) (coin-operated gaming devices)’’ after ‘‘(wa- gering)’’. 1976—Subsec. (c). Pub. L. 94–455 struck out subsec. (c) which provided that all special taxes should be paid by stamp and made reference to subtitle F for authority of the Secretary to make assessments where special taxes have not been duly paid by stamp. 1970—Subsec. (a). Pub. L. 91–513 struck out references to tax imposed by sections 4721 (narcotic drugs) and 4751 (marihuana). 1965—Subsec. (a). Pub. L. 89–44 substituted ‘‘4461(a)(1)’’ for ‘‘4461(2)’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95–600 applicable with respect to years beginning after June 30, 1980, see section 521(d)(2) of Pub. L. 95–600, set out as a note under sec- tion 4402 of this title. 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 1970 AMENDMENT Amendment by Pub. L. 91–513 effective on first day of seventh calendar month that begins after Oct. 26, 1970, see section 1105(a) of Pub. L. 91–513, set out as an Effec- tive Date note under section 951 of Title 21, Food and Drugs. EFFECTIVE DATE OF 1965 AMENDMENT Amendment by Pub. L. 89–44 applicable on and after July 1, 1965, see section 701(c)(2) of Pub. L. 89–44, set out in part as a note under section 4402 of this title. SAVINGS PROVISION Prosecution for any violation of law occurring, and civil seizures or forfeitures and injunctive proceedings commenced, prior to the effective date of amendment of this section by section 1102 of Pub. L. 91–513 not to be affected or abated by reason thereof, see section 1103 of Pub. L. 91–513, set out as a note under section 171 of Title 21, Food and Drugs. PERSONS ENGAGED IN ACTIVITIES ON DECEMBER 1, 1974, REQUIRING PAYMENT OF WAGERING TAX Person on Dec. 1, 1974, engaging in an activity mak- ing him liable for payment of tax imposed by section 4411 of this title (as in effect on such date) to be treated as commencing such activity on such date for purposes of this section and section 4411 of this title, see section 3(d)(2) of Pub. L. 93–499, set out as a note under section 4411 of this title. § 4902. Liability of partners Any number of persons doing business in co- partnership at any one place shall be required to pay but one special tax. (Aug. 16, 1954, ch. 736, 68A Stat. 593.) § 4903. Liability in case of business in more than one location The payment of the special tax imposed, other than the tax imposed by section 4411, shall not exempt from an additional special tax the per- son carrying on a trade or business in any other place than that stated in the register kept in the office of the official in charge of the internal revenue district; but nothing herein contained shall require a special tax for the storage of goods, wares, or merchandise in other places than the place of business, nor, except as pro- vided in this subtitle, for the sale by manufac- turers or producers of their own goods, wares, and merchandise, at the place of production or manufacture, and at their principal office or place of business, provided no goods, wares, or merchandise shall be kept except as samples at said office or place of business. (Aug. 16, 1954, ch. 736, 68A Stat. 593.) § 4904. Liability in case of different businesses of same ownership and location Whenever more than one of the pursuits or oc- cupations described in this subtitle are carried on in the same place by the same person at the same time, except as otherwise provided in this subtitle, the tax shall be paid for each according to the rates severally prescribed. (Aug. 16, 1954, ch. 736, 68A Stat. 594.) § 4905. Liability in case of death or change of lo- cation (a) Requirements When any person who has paid the special tax for any trade or business dies, his spouse or