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    decipher.legal

    Created by Michael Wessels
    1. U.S. Code
    2. Title 26
    3. Subtitle F
    4. CHAPTER 65
    5. Subchapter B

    § 6412 Floor stocks refunds

    (a) In general

    (1) Tires and taxable fuel

    Where before

    (2) Definitions

    For purposes of this section—

    (A) The term “dealer” includes a wholesaler, jobber, distributor, or retailer.

    (B) An article shall be considered as “held by a dealer” if title thereto has passed to such dealer (whether or not delivery to him has been made), and if for purposes of consumption title to such article or possession thereof has not at any time been transferred to any person other than a dealer.

    (b) Limitation on eligibility for credit or refund

    No manufacturer, producer, or importer shall be entitled to credit or refund under subsection (a) unless he has in his possession such evidence of the inventories with respect to which the credit or refund is claimed as may be required by regulations prescribed under this section.

    (c) Other laws applicable

    All provisions of law, including penalties, applicable in respect of the taxes imposed by sections 4071 and 4081 shall, insofar as applicable and not inconsistent with subsections (a) and (b) of this section, apply in respect of the credits and refunds provided for in subsection (a) to the same extent as if such credits or refunds constituted overpayments of such taxes.