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INTERNAL REVENUE CODE OF 1954
Subchapter C—Conveyances Sec. 4361. Imposition of tax. Sec. 4362. Exemptions. Sec. 4363. Cross references. SEC. 4361. IMPOSITION OF TAX.
There shall be imposed a tax on each deed, instrument, or writing (unless deposited in escrow before April 1, 1932), whereby any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or persons, by his, her, or their direction, when the consideration or value of the interest or property conveyed, exclusive of the value of any lien or encumbrance remaining thereon at the time of sale, exceeds $100 and does not exceed $500, in the amount of 55 cents; and at the rate of 55 cents for each additional $500 or fractional part thereof. SEC. 4362. EXEMPTIONS. (a) SECURITY FOR DEBT.—The
tax imposed by section 4361 shall not apply to any instrument or writing given to secure a debt. (b) OTHER EXEMPTIONS.— For other exemptions, see section 4382. SEC. 4363. CROSS REFERENCES. For penalties and other general and administrative provisions applicable to this subchapter, see section 4383 and subtitle F.
§4361
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