§ 4374. — Liability for tax.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 26USC4374]
TITLE 26--INTERNAL REVENUE CODE
Subtitle D--Miscellaneous Excise Taxes
CHAPTER 34--POLICIES ISSUED BY FOREIGN INSURERS
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.
(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.)
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.
Section Referred to in Other Sections
This section is referred to in sections 4371, 7270 of this title.
