§ 4701. Tax on issuer of registration-required obligation not in registered form
|
|
In the case of any person who issues a registration-required obligation which is not in registered form, there is hereby imposed on such person on the issuance of such obligation a tax in an amount equal to the product of - |
|
(1) |
1 percent of the principal amount of such obligation, multiplied by |
|
(2) |
the number of calendar years (or portions thereof) during the period beginning on the date of issuance of such obligation and ending on the date of maturity. |
|
|
For purposes of this section - |
|
(1) |
Registration-required obligation |
|
|
The term "registration-required obligation" has the same meaning as when used in section 163(f), except that such term shall not include any obligation required to be registered under section 149(a). |
|
|
The term "registered form" has the same meaning as when used in section 163(f). |
|