S. 483 — A bill to amend the Internal Revenue Code of 1954 to provide that the occupational tax on wagering shall not apply in any State in which wagering is permitted by law.

Summary

Amends the Internal Revenue Code to exempt from the excise tax on wagers and the occupational tax on persons engaged in the business of accepting wagers any wager or any such person authorized under State law (or in the case of the occupational tax, under local law as well) to accept wagers.

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Legislative Actions

1981-02-17
Introduced in Senate
1981-02-17
Read second time and referred to Senate Committee on Finance.
1981-02-17
Subcommittee on Taxation and Debt Management took the following actions.
1981-02-20
Committee on Finance requested executive comment from OMB; Treasury Department.
1981-03-16
Subcommittee on Taxation and Debt Management. Hearings held.

A bill to amend the Internal Revenue Code of 1954 to provide that the occupational tax on wagering shall not apply in any State in which wagering is permitted by law.

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