Source: https://www.law.cornell.edu/uscode/text/26/5731?quicktabs_8=0
Timestamp: 2015-04-19 23:29:17
Document Index: 522291141

Matched Legal Cases: ['§ 5731', '§ 5731', '§ 5731', '§ 10512', '§ 11125', '§ 202', '§ 502', '§ 701']

26 U.S. Code § 5731 - Imposition and rate of tax | LII / Legal Information Institute
U.S. Code › Title 26 › Subtitle E › Chapter 52 › Subchapter D › § 5731 26 U.S. Code § 5731 - Imposition and rate of tax
General rule Every person engaged in business as—
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.
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).
Certain rules to apply For purposes of paragraph (1), rules similar to the rules of subparagraphs (B) and (C) of section 448
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.
(Added Pub. L. 100–203, title X, § 10512(f)(1),Dec. 22, 1987, 101 Stat. 1330–449; amended Pub. L. 109–59, title XI, § 11125(b)(20)(E),Aug. 10, 2005, 119 Stat. 1957.)
A prior section 5731, acts Aug. 16, 1954, ch. 736, 68A Stat. 714; Sept. 2, 1958, Pub. L. 85–859, title II, § 202, 72 Stat. 1423, restricted shipment and delivery of tobacco materials to shipment and delivery pursuant to regulations, prior to repeal by Pub. L. 89–44, title V, § 502(b)(7), title VII, § 701(d),June 21, 1965, 79 Stat. 151, 157, applicable on and after Jan. 1, 1966.
2005—Subsecs. (c), (d). Pub. L. 109–59redesignated subsec. (d) as (c) and struck out former subsec. (c). Text read as follows: “Rules similar to the rules of subpart G of part II of subchapter A of chapter 51 shall apply for purposes of this section.”
Section effective Jan. 1, 1988, see section 10512(h) ofPub. L. 100–203, set out as an Effective Date of 1987 Amendment note under section 5111 of this title.