Page:United States Statutes at Large Volume 68A.djvu/556

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INTERNAL REVENUE CODE OF 1954

or rights is not greater than the amount of the tax that would otherwise be imposed on such deHvery or transfer, (b) OTHER EXEMPTIONS.—

For other exemptions, see sections 4341 to 4343, inclusive, and section 4382. SEC. 4323. AFFIXING OF STAMPS. (a) BOOKS OF THE CORPORATION.—The stamps representing the tax

imposed by section 4321 shall be affixed to the books of the corporation in case of sale where the evidence of transfer is shown only by the books of the corporation. (b) OTHER EVIDENCES OF SALE OR TRANSFER. — For provisions applicable to the affixing of stamps in cases of sale or transfer shown otherwise than only by the books of the corporation, see section 4353. SEC. 4324. CROSS REFERENCES. For definitions, penalties, and other general and administrative provisions applicable to this part, see sections 4344, 4351, 4352, 4381, and 4383, and subtitle F.

PART 11—SALES OR TRANSFERS OF CERTIFICATES OF INDEBTEDNESS Sec. 4331. Imposition of tax. Sec. 4332, Exemptions. Sec. 4333. Cross references. SEC. 4331. IMPOSITION OF TAX.

There shall be imposed a tax on each sale or transfer of any certificates of indebtedness, issued by a corporation, a t the rate of 5 cents on each $100 or fraction thereof of the face value. SEC. 4332. EXEMPTIONS. (a) BROKERS.—The tax imposed by section 4331 shall not apply to

any delivery or transfer to a broker for sale, nor upon any delivery or transfer by a broker to a customer for whom and upon whose order he has purchased same. (b) OTHER EXEMPTIONS.— For other exemptions, see sections 4341 to 4343, inclusive, and section 4382. SEC. 4333. CROSS REFERENCES. For definitions, penalties, and other general and administrative provisions applicable to this part, see sections 4344, 4381, and 4383; sections 4351 to 4353 inclusive; and subtitle F.

§ 4322(a)(4)

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