United States Code (Last Updated: May 24, 2014) |
Title 26. INTERNAL REVENUE CODE |
SubTitle E. Alcohol, Tobacco, and Certain Other Excise Taxes |
Chapter 52. TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES |
SubChapter D. Occupational Tax |
§ 5732. Payment of tax
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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.
Prior Provisions
A prior section 5732, acts Aug. 16, 1954, ch. 736, 68A Stat. 714;
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
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 Amendment
Amendment by Pub. L. 109–59 effective
Amendment by Pub. L. 94–455 effective on first day of first month which begins more than 90 days after