Wagers
(1) State authorized wagers
There shall be imposed on any wager authorized under the law of
the State in which accepted an excise tax equal to 0.25 percent
of the amount of such wager.
(2) Unauthorized wagers
There shall be imposed on any wager not described in paragraph
(1) an excise tax equal to 2 percent of the amount of such wager.
(b) Amount of wager
In determining the amount of any wager for the purposes of this
subchapter, all charges incident to the placing of such wager shall
be included; except that if the taxpayer establishes, in accordance
with regulations prescribed by the Secretary, that an amount equal
to the tax imposed by this subchapter has been collected as a
separate charge from the person placing such wager, the amount so
collected shall be excluded.
(c) Persons liable for tax
Each person who is engaged in the business of accepting wagers
shall be liable for and shall pay the tax under this subchapter on
all wagers placed with him. Each person who conducts any Wagering pool or lottery shall be liable for and shall pay the tax under this subchapter on all wagers placed in such pool or lottery. 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.
