► 26 U.S.C. § 4421 26 u.s.c. · taxes on wagering · title 26

26 U.S.C. § 4421

Definitions

Title 26 USC

● ACTIVE

Ch. 35

Jurisdiction Federal — United States

Chapter TAXES ON WAGERING

Primary Source uscode.house.gov ↗

Federation ID OM-USC26-SEC-306D8E

► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2023 Edition Title 26 - INTERNAL REVENUE CODE Subtitle D - Miscellaneous Excise Taxes CHAPTER 35 - TAXES ON WAGERING Subchapter C - Miscellaneous Provisions Sec. 4421 - Definitions From the U.S. Government Publishing Office, www.gpo.gov

§4421. Definitions

For purposes of this chapter— (1) Wager The term "wager" means— (A) any wager with respect to a sports event or a contest placed with a person engaged in the business of accepting such wagers, (B) any wager placed in a wagering pool with respect to a sports event or a contest, if such pool is conducted for profit, and (C) any wager placed in a lottery conducted for profit. (2) Lottery The term "lottery" includes the numbers game, policy, and similar types of wagering. The term does not include— (A) any game of a type in which usually (i) the wagers are placed, (ii) the winners are determined, and (iii) the distribution of prizes or other property is made, in the presence of all persons placing wagers in such game, and

(B) any drawing conducted by an organization exempt from tax under sections 501 and 521, if no part of the net proceeds derived from such drawing inures to the benefit of any private shareholder or individual.

(Aug. 16, 1954, ch. 736, 68A Stat. 528.)

Source: uscode.house.gov — public domain Official Source ↗

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The statutory text of 26 U.S.C. § 4421 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).

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← 26 U.S.C. § 4414 26 U.S.C. § 4422 →

Chapter 35 — TAXES ON WAGERING

26 U.S.C. § 4401 26 U.S.C. § 4402 26 U.S.C. § 4403 26 U.S.C. § 4404 26 U.S.C. § 4405 26 U.S.C. § 4411 26 U.S.C. § 4412 26 U.S.C. § 4413 26 U.S.C. § 4414 26 U.S.C. § 4421 26 U.S.C. § 4422 26 U.S.C. § 4423 26 U.S.C. § 4424

26 U.S.C. — public domain ← All Legislation

26 U.S.C.

Citation

26 U.S.C. § 4421

Status

● ACTIVE

Chapter

35 — TAXES ON WAGERING

Title

Internal Revenue Code

Jurisdiction

Federal

Federation ID

OM-USC26-SEC-306D8E

Root-LD Spec

v1.0

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Internal Revenue Code — 26 U.S.C. § 4421