Exemptions

  1. Law
  2. USC 26
  3. Internal Revenue Code
  4. Miscellaneous Excise Taxes
  5. TAXES ON CERTAIN INSURANCE POLICIES
  6. Policies Issued By Foreign Insurers
  7. Exemptions

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§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.

(Aug. 16, 1954, ch. 736, 68A Stat. 522 ; Pub. L. 85–859, title I, §141(a), Sept. 2, 1958, 72 Stat. 1301 ; Pub. L. 94–455, title XIX, §1904(a)(12), Oct. 4, 1976, 90 Stat. 1813 ; Pub. L. 100–647, title I, §1012(q)(13)(A), Nov. 10, 1988, 102 Stat. 3525 .)

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

Pub. L. 100–647, title I, §1012(q)(13)(B), Nov. 10, 1988, 102 Stat. 3525 , 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.


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