Page:United States Statutes at Large Volume 72 Part 1.djvu/1346

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26 USC 708.

PUBLIC LAW 85-859-SEPT. 2, 1958

[72 S T A T.

(b) EFFECTIVE DATE.—In applying section 4383 of the Internal Revenue Code of 1954 as amended by subsection (a) of this section, the determination of whether a partnership is considered as a continuing or terminated partnership (within the meaning of section 708 of such Code) shall be made by taking into account only changes in the partnership occurring on or after the effective date specified in section 1(c) of this Act.

PART V—TAXES ON WAGERING; CERTAIN OCCUPATIONAL TAXES SEC. 151. PERSONS LIABLE FOR TAX ON WAGERS. 26 USC 4401.

26 USC 4412.

26 USC 4462.

(a) FAILURE To REGISTER NAME OF PRINCIPAL.—Section 4401(c)

(persons liable for tax on wagers) is amended by adding at the end thereof the following: "Any person required to register under section 4412 who receives wagers for or on behalf of another person without having registered under section 4412 the name and place of residence of such other person shall be liable for and shall pay the tax under this subchapter on all such wagers received by him." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply with respect to wagers received after the date of the enactment of this Act. SEC. 152. OCCUPATIONAL TAX ON COIN-OPERATED DEVICES. (a) IN GENERAL.—Section 4462 (definition of coin-operated amusement or gaming devices) is amended to read as follows: "SEC. 4462. DEFINITION OF COIN-OPERATED AMUSEMENT OR GAMING DEVICE. " (a) IN GENERAL.—For purposes of this subchapter, the term 'coin-operated amusement or gaming device' means— " (1) any machine which is— " (A) a music machine operated by means of the insertion of a coin, token, or similar object, " (B) a vending machine operated by means of the insertion of a one cent coin, which, when it dispenses a prize, never dispenses a prize of a retail value of, or entitles a person to receive a prize of a retail value of, more than 5 cents, and if the only prize dispensed is merchandise and not cash or tokens, " (C) an amusement machine operated by means of the insertion of a coin, token, or similar object, but not including any device defined in paragraph (2) of this subsection, or " (D) a machine which is similar to machines described in subparagraph (A), (B), or (C), and is operated without the insertion of a coin, token, or similar object; and "(2) any machine which is— " (A) a so-called 'slot' machine which operates by means of the insertion of a coin, token, or similar object and which, by application of the element of chance, may deliver, or entitle the person playing or operating the machine to receive, cash, premiums, merchandise, or tokens, or " (B) a machine which is similar to machines described in subparagraph (A) and is operated without the insertion of a coin, token, or similar object. "(b) EXCLUSION.—The term 'coin-operated amusement or gaming device' does not include bona fide vending machines in which are not incorporated gaming or amusement features."

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