
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC4701]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                 Subtitle D--Miscellaneous Excise Taxes
 
              CHAPTER 39--REGISTRATION-REQUIRED OBLIGATIONS
 
Sec. 4701. Tax on issuer of registration-required obligation not 
        in registered form
        

(a) Imposition of tax

    In the case of any person who issues a registration-required 
obligation which is not in registered form, there is hereby imposed on 
such person on the issuance of such obligation a tax in an amount equal 
to the product of--
        (1) 1 percent of the principal amount of such obligation, 
    multiplied by
        (2) the number of calendar years (or portions thereof) during 
    the period beginning on the date of issuance of such obligation and 
    ending on the date of maturity.

(b) Definitions

    For purposes of this section--

                (1) Registration-required obligation

        The term ``registration-required obligation'' has the same 
    meaning as when used in section 163(f), except that such term shall 
    not include any obligation required to be registered under section 
    149(a).

                         (2) Registered form

        The term ``registered form'' has the same meaning as when used 
    in section 163(f).

(Added Pub. L. 97-248, title III, Sec. 310(b)(4)(A), Sept. 3, 1982, 96 
Stat. 598; amended Pub. L. 99-514, title XIII, Sec. 1301(j)(5), Oct. 22, 
1986, 100 Stat. 2657.)


                               Amendments

    1986--Subsec. (b)(1). Pub. L. 99-514 substituted ``section 149(a)'' 
for ``section 103(j)''.


                    Effective Date of 1986 Amendment

    Amendment by Pub. L. 99-514 applicable to bonds issued after Aug. 
15, 1986, except as otherwise provided, see sections 1311 to 1318 of 
Pub. L. 99-514, set out as an Effective Date; Transitional Rules note 
under section 141 of this title.


                             Effective Date

    Section applicable to obligations issued after Dec. 31, 1982, with 
an exception for certain warrants, see section 310(d)(1), (3) of Pub. L. 
97-248, set out as an Effective Date of 1982 Amendment note under 
section 103 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 165, 1287 of this title.
