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INTERNAL REVENUE CODE OF 1954
Subchapter D—Safe Deposit Boxes Sec. 4286, Imposition of tax. Sec. 4287. Definition of safe deposit box.
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SEC. 4286. IMPOSITION OF TAX.
There is hereby imposed a tax equivalent to 10 percent of the amount collected for the use of any safe deposit box. Such tax shall be paid by the person paying for the use of the safe deposit box. SEC. 4287. DEFINITION OF SAFE DEPOSIT BOX.
For the purposes of section 4286, any vault, safe, box, or other receptacle, of not more than 40 cubic feet capacity, used for the safekeeping or storage of jewelry, plate, money, specie, bullion, stocks, bonds, securities, valuable papers of any kind, or other valuable personal property, shall be regarded as a safe deposit box.
§4286
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