§ 5732. Payment of tax

627 words·~3 min read·/usc/title-26/section-5732

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(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.)

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Pub. L. 85–859, title II, § 201
72 Stat. 1346
Pub. L. 94–455, title XIX, § 1905(a)(12)
90 Stat. 1820
Pub. L. 109–59, title XI, § 11125(b)(20)(A)
119 Stat. 1956
Pub. L. 110–172, § 11(a)(32)
121 Stat. 2487
Aug. 16, 1954, ch. 736
68A Stat. 714
Pub. L. 85–859, title II, § 202
72 Stat. 1423
Pub. L. 89–44, title V, § 502(b)(7)
79 Stat. 151
Pub. L. 110–172
Pub. L. 109–59, § 11125(b)(20)(A)
section 5142 of this title
Pub. L. 109–59, § 11125(b)(20)(B)
Pub. L. 94–455
Pub. L. 109–59
section 11125(c) of Pub. L. 109–59
section 1905(d) of Pub. L. 94–455

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cites case law

§ 5732

Payment of tax

C.F.R.×4

Fed. Reg.×4

U.S.C.×2

U.S.C.§ 5732

U.S.C.§ 5002

U.S.C.§ 5005

Pub. L.Pub. L. 85–859, title II, § 201

Stat.72 Stat. 1346

Pub. L.Pub. L. 94–455, title XIX, § 1905(a)(12)

Stat.90 Stat. 1820

Pub. L.Pub. L. 109–59, title XI, § 11125(b)(20)(A)

Cites 25 · showing 8Cited by 10 across 3 sources