26 U.S.C. § 4404

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 4404 - Territorial extent

The tax imposed by this subchapter shall apply only to wagers

(1) accepted in the United States, or

(2) placed by a person who is in the United States

(A) with a person who is a citizen or resident of the United States, or

(B) in a wagering pool or lottery conducted by a person who is a citizen or resident of the United States.

26 U.S.C. § 4404

Aug. 16, 1954, ch. 736, 68A Stat. 525.

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.

person

The term "person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation.