Volume 74
Public Law 86–416
Relating to the rate of tax on the issuance of shares or certificates of stock by regulated investment companies.
Approved April 8, 1960
Statutory text
AN ACT
Relating to the rate of tax on the issuance of shares or certificates of stock by regulated investment companies.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the first sentence of section 4301 of the Internal Revenue Code of 1954 (relating to imposition of documentary stamp tax on original issue of shares or certificates of stock) is amended by inserting before the period at the end thereof the following: except that such rate shall be 4 cents instead of 10 cents in the case of shares or certificates issued by a
68A Stat. 268; 72 Stat. 1638, 72 Stat. 1674.
corporation to which subchapter M of chapter 1 applies for the taxable year during which such share or certificate is issued”.
Sec. 2.
The amendment made by the first section of this Act shall apply with respect to shares and certificates issued after the date of the enactment of this Act.
Approved April 8, 1960.