Page:United States Statutes at Large Volume 68A.djvu/589

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CH. 39—REGULATORY TAXES

549

CHAPTER 39—REGULATORY TAXES SUBCHAPTER SUBCHAPTER SUBCHAPTER SUBCHAPTER SUBCHAPTER SUBCHAPTER

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A, B. C. D. E. F.

Narcotic drugs and marihuana. White phosphorus matches. Adulterated butter and filled cheese. Cotton futures. Circulation other than of national banks. Silver bullion.

Subchapter A—Narcotic Drugs and Marihuana Part I. Narcotic drugs. Part II. Marihuana. Part III. Miscellaneous provisions relating to narcotic drugs and marihuana.

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PART I—NARCOTIC DRUGS • ^ .Hl'Vi- i. ,,

Subpart Subpart Subpart Subpart

A. B. C. D.

Tax on opium, isonipecaine, opiates, and coca leaves. Tax on opium for smoking. Occupational tax. General provisions relating to narcotic drugs.

Subpart A—Tax on Opium, Isonipecaine, Opiates, and Coca Leaves

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Sec. 4701. Sec. 4702. Sec. 4703. Sec. 4704. Sec. 4705. Sec. 4706. Sec. 4707.

Imposition of tax. Exemptions. Affixing of stamps. Packages. Order forms. Forfeitures. Cross references.

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SEC. 4701. IMPOSITION OF TAX.

(a) RATE.—There shall be imposed an internal revenue tax upon narcotic drugs, produced in or imported into the United States, and sold, or removed for consumption or sale, at the rate of 1 cent per ounce, and any fraction of an ounce in a package shall be taxed as an ounce. The tax imposed by this subsection shall be in addition to any import duty imposed on narcotic drugs. (b) BY W H O M PAID.—The tax imposed by subsection (a) shall be

paid by the importer, manufacturer, producer, or compounder. SEC. 4702. EXEMPTIONS.

(a) PREPAEATIONS OF L I M I T E D NARCOTIC CONTENT.—The provisions of this subpart and sections 4721 to 4726, inclusive, shall not be construed to apply to the manufacture, sale, distribution, giving away, dispensing, or possession of preparations and remedies which do not contain more than 2 grains of opium, or more than one-fourth of a grain of morphine, or more than one-eighth of a grain of heroin, or more than 1 grain of codeine, or any salt or derivative of any of them, in 1 fluid ounce, or, if a solid or semisolid preparation, in 1 avoirdupois ounce; or to liniments, ointments, or other preparations which are prepared for external use only^ except liniments, ointments, and other § 4702(a)