Internal Revenue Code:Sec. 4373. Exemptions

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle D - Miscellaneous Excise Taxes
       CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS
     

Statute

    Sec. 4373. Exemptions
 
      The tax imposed by section 4371 shall not apply to -
      (1) Effectively connected items
        Any amount which is effectively connected with the conduct of a
      trade or business within the United States unless such amount is
      exempt from the application of section 882(a) pursuant to a
      treaty obligation of the United States.
      (2) Indemnity bond
        Any indemnity bond required to be filed by any person to secure
      payment of any pension, allowance, allotment, relief, or
      insurance by the United States, or to secure a duplicate for, or
      the payment of, any bond, note, certificate of indebtedness,
      war-saving certificate, warrant or check, issued by the United
      States.
 

Sources

    (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. 94-455, title
    XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1813; Pub. L.
    100-647, title I, Sec. 1012(q)(13)(A), Nov. 10, 1988, 102 Stat.
    3525.)
 

Miscellaneous

                                 AMENDMENTS
      1988 - Par. (1). Pub. L. 100-647 amended par. (1) generally,
    substituting provisions relating to effectively connected items for
    provisions relating to domestic agent.
      1976 - Par. (1). Pub. L. 94-455 substituted ''State, or in the
    District of Columbia, within'' for ''State, Territory, or District
    of the United States within''.
      1958 - Pub. L. 85-859 reenacted section without change.
                      EFFECTIVE DATE OF 1988 AMENDMENT
      Section 1012(q)(13)(B) of Pub. L. 100-647 provided that: ''The
    amendment made by subparagraph (A) (amending this section) shall
    apply with respect to premiums paid after the date 30 days after
    the date of the enactment of this Act (Nov. 10, 1988).''
                      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.