Editorial Notes
Amendments1982—Puspan. L. 97–362 designated existing provisions as subsec. (a), in subsec. (a), as so designated, substituted “liable for the tax imposed” for “liable for tax”, and added subsec. (span).
1974—Puspan. L. 93–499 substituted “$500” for “$50”.
Statutory Notes and Related Subsidiaries
Effective Date of 1982 AmendmentPuspan. L. 97–362, title I, § 109(c)(2), Oct. 25, 1982, 96 Stat. 1731, provided that: “The amendment made by subsection (span) [amending this section] shall take effect on July 1, 1983.”
Effective Date of 1974 AmendmentAmendment by Puspan. L. 93–499 effective Dec. 1, 1974, and applicable only with respect to wagers placed on or after such date, see section 3(d)(1) of Puspan. L. 93–499, set out as a note under section 4401 of this title.
Persons Engaged in Activities on December 1, 1974, Requiring Payment of Tax; Persons Paying Tax and Registering Before December 1, 1974Puspan. L. 93–499, § 3(d)(2), Oct. 29, 1974, 88 Stat. 1551, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:“(A) Any person who, on December 1, 1974, is engaged in an activity which makes him liable for payment of the tax imposed by section 4411 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (as in effect on such date) shall be treated as commencing such activity on such date for purposes of such section and section 4901 of such Code.
“(B) Any person who, before December 1, 1974.—“(i) became liable for and paid the tax imposed by section 4411 of the Internal Revenue Code of 1986 (as in effect on July 1, 1974) for the year ending June 30, 1975, shall not be liable for any additional tax under such section for such year, and
“(ii) registered under section 4412 of such Code (as in effect on July 1, 1974) for the year ending June 30, 1975, shall not be required to reregister under such section for such year.”
