1300
26 USC 4361.
PUBLIC LAW 85-859-SEPT. 2, 1958
[72 S T A T.
conveyed (exclusive of the value of any lien or encumbrance remaining thereon at the time of sale) exceeds $100, a tax at the rate of 55 cents for each $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) STATE AND LOCAL GOVERNMENT CONVEYANCES.—No State or Territory, or political subdivision thereof, or the District of Columbia, shall be liable for the tax imposed by section 4361 with respect to any deed, instrument, or writing to which it is a party, and affixing of stamps thereby shall not be deemed payment for the tax, which may be collected by assessment from any other party liable therefor. "(c)
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 4384 and subtitle F.
"Subchapter D—Policies Issued by Foreign Insurers
26 USC 4372.
"Sec. 4371. Imposition of tax. "Sec. 4372. Definitions. "Sec. 4373. Exemptions. "Sec. 4374. Affixing of stamps. "Sec. 4375. Cross references. "SEC. 4371. IMPOSITION OF TAX. "There is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or renisurer, a tax at the following rates: " (1) CASUALTY INSURANCE AND INDEMNITY BONDS.—Four cents on each dollar, or fractional part thereof, of the premium charged on the policy of casualty insurance or the indemnity bond, if issued to or for, or in the name of, an insured as defined in section 4372(d). "(2)
26 USC 816.
L I F E INSURANCE, SICKNESS, AND ACCIDENT POLICIES, AND
ANNUITY CONTRACTS.—One ceut on each dollar, or fractional part thereof, of the premium charged on the policy of life, sickness, or accident insurance, or annuity contract, unless the insurer is subject to tax under section 816. "(3) REINSURANCE.—One cent on each dollar, or fractional part thereof, of the premium charged on the policy of reinsurance covering any of the contracts taxable under paragraph (1) or (2). "SEC. 4372. DEFINITIONS. " (a) FOREIGN INSURER OR REINSURER.—For purposes of this subchapter, the term 'foreign insurer or reinsurer' means an insurer or reinsurer who is a nonresident alien individual, a foreign partnership, or a foreign corporation. The term includes a nonresident alien individual, foreign partnership, or foreign corporation which shall become bound by an obligation of the nature of an indemnity bond. "(b) POLICY OF CASUALTY INSURANCE.—For purposes of section 4371 (1), the term 'policy of casualty insurance' means any policy (other than life) or other instrument by whatever name called whereby a contract of insurance is made, continued, or renewed. "(c) INDEMNITY BOND.—For purposes of this subchapter, the term 'indemnity bond' means any instrument by whatever name called whereby an obligation of the nature of an indemnity, fidelity, or surety bond is made, continued, or renewed. The term includes any bond for indemnifying any person who shall have become bound or
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