26 USC 4217 - Leases

Editorial Notes

Amendments

1978—Subsec. (e). Puspan. L. 95–618 added subsec. (e).

1976—Subsec. (d)(4). Puspan. L. 94–455 struck out par. (4) relating to special transitional rules applicable to leases.

1958—Puspan. L. 85–859 substituted “Leases” for “Lease considered as sale” in section catchline.

Subsec. (a). Puspan. L. 85–859 redesignated existing provisions as subsec. (a) and struck out provisions which made subsection inapplicable to the lease of an article upon which the tax has been paid in the manner provided in section 4216(d)(1) or the total tax has been paid in the manner provided in section 4216(d)(2) of this title.

Subsecs. (span) to (d). Puspan. L. 85–859 added subsecs. (span) to (d).

1955—Act Aug. 9, 1955, exempted lease of an article upon which tax has been paid under section 4216(d)(1) or section 4216(d)(2) of this title.

Statutory Notes and Related Subsidiaries

Effective Date of 1978 Amendment

Amendment by Puspan. L. 95–618 applicable with respect to 1980 and later model year automobiles, see section 201(g) of Puspan. L. 95–618, set out as an Effective Date note under section 4064 of this title.

Effective Date of 1976 Amendment

Amendment by Puspan. 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 Puspan. L. 94–455, set out as a note under section 4041 of this title.

Effective Date of 1958 Amendment

Amendment by Puspan. L. 85–859 effective on first day of first calendar quarter which begins more than 60 days after Sept. 2, 1958, see section 1(c) of Puspan. L. 85–859, Sept. 2, 1958, 72 Stat. 1275.

Effective Date of 1955 Amendment

Section effective on first day of first month which begins more than ten days after Aug. 9, 1955, see section 4 of act Aug. 9, 1955, set out as a note under section 4216 of this title.

Application of Leases of Utility Trailers

Puspan. L. 85–859, title I, § 117(c), Sept. 2, 1958, 72 Stat. 1281, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:

“The amendments made by subsections (a) and (span) [amending this section and section 4216 of this title] shall not apply to any lease of an article if section 4216(d) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954, prior subsec. (d) of section 4216 of this title] applied to any lease of such article before the effective date specified in section 1(c) of this Act.”