26-U.S.C.-5732
§5732 – Payment of Tax
Pathway
Title 26 > Subtitle E > Chapter 52 > Subchapter D > Section 5732
Details
- Reference: Section 5732
- Legend: §5732 – Payment of Tax
- USCode Year: 2013
Provision Content
(a) Condition precedent to carrying on business
No person shall be engaged in or carry on any trade or business subject to tax under this subchapter until he has paid the special tax therefor.
(b) Computation
All special taxes under this subchapter 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 imposed. In the former case the tax shall be reckoned 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.
(c) How paid
(1) Payment by return
The special taxes imposed by this subchapter shall be paid on the basis of a return under such regulations as the Secretary shall prescribe.
(2) Stamp denoting payment of tax
After receiving a properly executed return and remittance of any special tax imposed by this subchapter, the Secretary shall issue to the taxpayer an appropriate stamp as a receipt denoting payment of the tax. This paragraph shall not apply in the case of a return covering liability for a past period.
(Added Pub. L. 85–859, title II, §201, Sept. 2, 1958, 72 Stat. 1346, §5142; amended Pub. L. 94–455, title XIX, §1905(a)(12), Oct. 4, 1976, 90 Stat. 1820; renumbered §5732 and amended Pub. L. 109–59, title XI, §11125(b)(20)(A), (B), Aug. 10, 2005, 119 Stat. 1956; Pub. L. 110–172, §11(a)(32), Dec. 29, 2007, 121 Stat. 2487.)
Prior Provisions
A prior section 5732, acts Aug. 16, 1954, ch. 736, 68A Stat. 714; Sept. 2, 1958, Pub. L. 85–859, title II, §202, 72 Stat. 1423, required that a dealer in tobacco materials make a statement of shipments and deliveries or give an inventory upon demand, prior to repeal by Pub. L. 89–44, title V, §502(b)(7), title VII, §701(d), June 21, 1965, 79 Stat. 151, 157, applicable on and after Jan. 1, 1966.
Amendments
2007—Subsec. (c)(2). Pub. L. 110–172, which directed amendment of section 5732 of this title, as redesignated by Pub. L. 109–59, §11125(b)(20)(A), by substituting this subchapter for this subpart in subsec. (c)(2) effective Dec. 29, 2007, was executed to this section to reflect the probable intent of Congress even though the redesignation of section 5142 of this title as this section was not effective until July 1, 2008. See 2005 Amendment and Effective Date of 2005 Amendment notes below.
2005—Pub. L. 109–59, §11125(b)(20)(A), renumbered section 5142 of this title as this section and transferred section to this subchapter.
Subsecs. (a), (b). Pub. L. 109–59, §11125(b)(20)(B), struck out (except the tax imposed by section 5131) before until he has paid in subsec. (a) and before shall be imposed in subsec. (b).
Pub. L. 109–59, §11125(b)(20)(A), substituted this subchapter for this part.
Subsec. (c)(1). Pub. L. 109–59, §11125(b)(20)(A), substituted this subchapter for this part.
1976—Subsec. (c). Pub. L. 94–455 substituted provisions under which the special taxes would be paid on the basis of a return for provisions under which the special taxes were paid by stamps denoting the tax.
Effective Date of 2005 Amendment
Amendment by Pub. L. 109–59 effective July 1, 2008, but inapplicable to taxes imposed for periods before such date, see section 11125(c) of Pub. L. 109–59, set out as a note under section 5002 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 1905(d) of Pub. L. 94–455, set out as a note under section 5005 of this title.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-5712 in the Legal Encyclopedia: Excise Taxes
In this entry about 26-U.S.C.-5712, find legal reference material, bibliographies and premiere content related to excise taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States excise taxes-specific issues, written by authorities in the field.
28-U.S.C.-599B in the Legal Encyclopedia: Tobacco
In this entry about 28-U.S.C.-599B, find legal reference material, bibliographies and premiere content related to tobacco in the American Encyclopedia of Law, presenting a comprehensive view of the United States tobacco-specific issues, written by authorities in the field.
Leave a Reply