26-U.S.C.-4421
§4421 – Definitions
Pathway
Title 26 > Subtitle D > Chapter 35 > Subchapter C > Section 4421
Details
- Reference: Section 4421
- Legend: §4421 – Definitions
- USCode Year: 2013
Provision Content
For purposes of this chapter—
(1) Wager
The term wager means—
(A) any wager with respect to a sports event or a contest placed with a person engaged in the business of accepting such wagers,
(B) any wager placed in a wagering pool with respect to a sports event or a contest, if such pool is conducted for profit, and
(C) any wager placed in a lottery conducted for profit.
(2) Lottery
The term lottery includes the numbers game, policy, and similar types of wagering. The term does not include—
(A) any game of a type in which usually
(i) the wagers are placed,
(ii) the winners are determined, and
(iii) the distribution of prizes or other property is made, in the presence of all persons placing wagers in such game, and
(B) any drawing conducted by an organization exempt from tax under sections 501 and 521, if no part of the net proceeds derived from such drawing inures to the benefit of any private shareholder or individual.
(Aug. 16, 1954, ch. 736, 68A Stat. 528.)
U.S. Encyclopedia of Law Coverage
26-U.S.C.-4412 in the Legal Encyclopedia: Taxes
In this entry about 26-U.S.C.-4412, find legal reference material, bibliographies and premiere content related to taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxes-specific issues, written by authorities in the field.
Subchapter B – in the Legal Encyclopedia: Work
In this entry about Subchapter B – , find legal reference material, bibliographies and premiere content related to work in the American Encyclopedia of Law, presenting a comprehensive view of the United States work-specific issues, written by authorities in the field.
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