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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) General rule.--Every person engaged in business as--
(1) a manufacturer of tobacco products,
(2) a manufacturer of cigarette papers and tubes, or
(3) an export warehouse proprietor,
shall pay a tax of $1,000 per year in respect of each premises at which such business is carried on.
(b) Reduced rates for small proprietors.--
(1) In general.--Subsection (a) shall be applied by substituting “$500” for “$1,000” with respect to any taxpayer the gross receipts of which (for the most recent taxable year ending before the 1st day of the taxable period to which the tax imposed by subsection (a) relates) are less than $500,000.
(2) Controlled group rules.--All persons treated as 1 taxpayer under section 5061(e)(3) shall be treated as 1 taxpayer for purposes of paragraph (1).
(3) Certain rules to apply.--For purposes of paragraph (1), rules similar to the rules of subparagraphs (B) and (C) of section 448(c)(3) shall apply.
(c) Penalty for failure to register.--Any person engaged in a business referred to in subsection (a) who willfully fails to pay the tax imposed by subsection (a) shall be fined not more than $5,000, or imprisoned not more than 2 years, or both, for each such offense.
Cite this article: FindLaw.com - 26 U.S.C. § 5731 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 5731. Imposition and rate of tax - last updated January 01, 2024 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-5731/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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