§ 48.6412-1 Floor stocks credit or refund.§ 48.6412-2 Definitions for purposes of floor stocks credit or refund.§ 48.6412-3 Amount of tax paid on each article.
Amended 1956, 1958, 1960, 1961, 1962, 1965
- 1965 Pub. L. 89-44 Pub. L. 89–44, § 209(d), repealed subsec. (e) which related to cross reference.
- 1962 Pub. L. 87-456 Pub. L. 87–456 repealed subsec. (d) which related to floor stock refunds with respect to any sugar or articles composed in chief value of sugar.
- 1962 Pub. L. 87-535 Pub. L. 87–535 substituted “June 30, 1967” for “December 31, 1962” after “paid and which, on”, and “September 30, 1967” for “March 31, 1963” after “delegate on or before”.
- 1961 Pub. L. 87-15 Pub. L. 87–15 substituted “December 31, 1962” for “September 30, 1961” after “paid and which, on”, and “March 31, 1963” for “September 30, 1961” after “delegate on or before”.
- 1960 Pub. L. 86-592 Pub. L. 86–592 substituted “September 30, 1961” for “June 30, 1961” after “and which, on”.
- 1958 Pub. L. 85-859 Pub. L. 85–859 required filing of claims for refund on or before Sept. 30, 1961.
- 1956 Act May 29, 1956, substituted “1961” for “1957”.
(a) In general
Amended 1955, 1956, 1959, 1961, 1976
- 1976 Pub. L. 94-455 Pub. L. 94–455, § 1906(a)(22), redesignated par. (4) as (2).
- 1961 Pub. L. 87-61 Pub. L. 87–61, § 206(d), repealed par. (3) which related to 1961 floor stocks refund on gasoline.
- 1959 Pub. L. 86-342 Pub. L. 86–342 added par. (3) and redesignated former par. (3) as (4).
- 1956 Act June 29, 1956, in par. (1), substituted “April 1, 1957” for “April 1, 1956” in two places, “section 4061(a)(2)” for “section 4061 (a) or (b)”, and inserted provisions requiring claims for refund to be made on or before August 10, 1957, inserted provisions relating to trucks and buses, tires, tread rubber, and gasoline as par. (2), defined “dealer” in the case of tread rubber subject to tax under section 4071(a)(4) of this title in par. (3), and struck out pars. (4) and (5). Former par. (4), which related to reimbursement of dealers, was covered generally by pars. (1) and (2). Former par. (5) was covered by subsec. (b).
- 1956 Act Mar. 29, 1956, substituted “April 1, 1957” for “April 1, 1956” in two places, and “July 1, 1957” for “July 1, 1956”.
- 1955 Act Mar. 30, 1955, substituted “April 1, 1956” for “April 1, 1955” and “July 1, 1956” for “July 1, 1955” wherever appearing.
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(1) Tires and taxable fuel Where before October 1, 2028, any article subject to the tax imposed by section 4071 or 4081 has been sold by the manufacturer, producer, or importer and on such date is held by a dealer and has not been used and is intended for sale, there shall be credited or refunded (without interest) to the manufacturer, producer, or importer an amount equal to the difference between the tax paid by such manufacturer, producer, or importer on his sale of the article and the amount of tax made applicable to such article on and after October 1, 2028, if claim for such credit or refund is filed with the Secretary on or before March 31, 2029, based upon a request submitted to the manufacturer, producer, or importer before January 1, 2029, by the dealer who held the article in respect of which the credit or refund is claimed, and, on or before March 31, 2029, reimbursement has been made to such dealer by such manufacturer, producer, or importer for the tax reduction on such article or written consent has been obtained from such dealer to allowance of such credit or refund. No credit or refund shall be allowable under this paragraph with respect to taxable fuel in retail stocks held at the place where intended to be sold at retail, nor with respect to taxable fuel held for sale by a producer or importer of taxable fuel.
Amended 1957, 1958, 1959, 1960, 1961, 1962, 1963, 1964, 1965, 1966, 1968, 1969, 1970, 1971, 1976, 1978, 1983, 1984, 1987, 1990, 1991, 1993, 1998, 2005, 2011, 2012, 2015, 2021
- 2021 Pub. L. 117-58 Pub. L. 117–58 substituted “October 1, 2028” for “October 1, 2022” in two places and “March 31, 2029” for “March 31, 2023” in two places and substituted “January 1, 2029” for “January 1, 2023”.
- 2015 Pub. L. 114-94 Pub. L. 114–94 substituted “October 1, 2022” for “October 1, 2016” in two places and “March 31, 2023” for “March 31, 2017” in two places and substituted “January 1, 2023” for “January 1, 2017”.
- 2012 Pub. L. 112-141 Pub. L. 112–141 substituted in two places “October 1, 2016” for “July 1, 2012” and “March 31, 2017” for “December 31, 2012” and substituted “January 1, 2017” for “October 1, 2012”.
- 2012 Pub. L. 112-140 Pub. L. 112–140, §§ 1(c), 402(b), temporarily substituted in two places “July 7, 2012” for “July 1, 2012” and “January 6, 2013” for “December 31, 2012” and temporarily substituted “October 7, 2012” for “October 1, 2012”. See Effective and Termination Dates of 2012 Amendment note below.
- 2012 Pub. L. 112-102 Pub. L. 112–102 substituted in two places “July 1, 2012” for “April 1, 2012” and “December 31, 2012” for “September 30, 2012” and substituted “October 1, 2012” for “July 1, 2012”.
- 2011 Pub. L. 112-30 Pub. L. 112–30 substituted in two places “April 1, 2012” for “October 1, 2011” and “September 30, 2012” for “March 31, 2012” and substituted “July 1, 2012” for “January 1, 2012”.
- 2005 Pub. L. 109-59 Pub. L. 109–59 substituted “2011” for “2005” and “2012” for “2006” wherever appearing.
- 1998 Pub. L. 105-178 Pub. L. 105–178 substituted “2005” for “1999” and “2006” for “2000” wherever appearing.
- 1993 Pub. L. 103-66 Pub. L. 103–66 substituted “taxable fuel” for “gasoline” wherever appearing in heading and text.
- 1991 Pub. L. 102-240 Pub. L. 102–240 substituted “1999” for “1995” and “2000” for “1996” wherever appearing.
- 1990 Pub. L. 101-508 Pub. L. 101–508 substituted “1995” for “1993” and “1996” for “1994” wherever appearing.
- 1987 Pub. L. 100-17 Pub. L. 100–17 substituted “1993” for “1988” and “1994” for “1989” wherever appearing.
- 1984 Pub. L. 98-369 Pub. L. 98–369, § 735(c)(12)(A), (B), substituted “Tires and gasoline” for “Trucks, tires, tubes, tread rubber, and gasoline” in heading, and in text substituted “Where before October 1, 1988, any article subject to the tax imposed by section 4071 or 4081 has been sold by the manufacturer, producer, or importer and on such date is held by a dealer and has not been used and is intended for sale,” for “Where before October 1, 1988, any article subject to the tax imposed by section 4061(a)(1), 4071((a)(1), (3) or (4), or 4081 has been sold by the manufacturer, producer, or importer and on such date is held by a dealer and has not been used and is intended for sale (or, in the case of tread rubber, is intended for sale or is held for use),”, and struck out provision that no credit or refund shall be allowable under this paragraph with respect to inner tubes for bicycle tires (as defined in section 4221(e)(4)(B)).
- 1983 Pub. L. 97-424 Pub. L. 97–424, § 516(a)(5), substituted “1989” for “1985” and “1988” for “1984” wherever appearing.
- 1978 Pub. L. 95-618 Pub. L. 95–618 struck out “and buses” after “Trucks” in heading.
- 1978 Pub. L. 95-599 Pub. L. 95–599 substituted “1984” for “1979” and “1985” for “1980” wherever appearing.
- 1976 Pub. L. 94-455 Pub. L. 94–455, § 1906(a)(22), (b)(13)(A), redesignated par. (2) as (1) and struck out “or his delegate” after “Secretary”. Prior par. (1) had been repealed by Pub. L. 92–178, title IV, § 401(g)(5), Dec. 10, 1971, 85 Stat. 533.
- 1971 Pub. L. 92-178 Pub. L. 92–178 struck out par. (1) which related to general rule for floor stocks refunds on passenger automobiles, etc.
- 1970 Pub. L. 91-614 Pub. L. 91–614 substituted “January 1 of 1973, 1974, 1978, 1979, 1980, 1981, or 1982” for “January 1, 1971, January 1, 1972, January 1, 1973, or January 1, 1974”.
- 1969 Pub. L. 91-172 Pub. L. 91–172 struck out reference to Jan. 1, 1970, and inserted reference to Jan. 1, 1974.
- 1968 Pub. L. 90-364 Pub. L. 90–364 substituted “January 1, 1970, January 1, 1971, January 1, 1972, or January 1, 1973,” for “May 1, 1968, or January 1, 1969,”.
- 1968 Pub. L. 90-285 Pub. L. 90–285 substituted “May 1, 1968” for “April 1, 1968”.
- 1966 Pub. L. 89-368 Pub. L. 89–368 substituted “January 1, 1966, April 1, 1968, or January 1, 1969,” for “January 1, 1966, 1967, 1968, or 1969,”.
- 1965 Pub. L. 89-44 Pub. L. 89–44, § 209(a), made floor stock refunds available with respect to passenger cars in dealers’ inventories on the various reduction dates for the passenger car tax and required claims for credit or refund to be filed on or before the 10th day of the 8th calendar month beginning after the date of the tax reduction.
- 1964 Pub. L. 88-348 Pub. L. 88–348 substituted “July 1, 1965” for “July 1, 1964” in two places, “October 1, 1965” for “October 1, 1964”, and “November 10, 1965” for “November 10, 1964” in two places.
- 1963 Pub. L. 88-52 Pub. L. 88–52 substituted “July 1, 1964” for “July 1, 1963”, in two places, “October 1, 1964” for “October 1, 1963”, and “November 10, 1964” for “November 10, 1963” in two places.
- 1962 Pub. L. 87-508 Pub. L. 87–508 substituted “July 1, 1963” for “July 1, 1962” in two places, “October 1, 1963” for “October 1, 1962”, and “November 10, 1963” for “November 10, 1962” in two places.
- 1961 Pub. L. 87-72 Pub. L. 87–72 substituted “July 1, 1962” for “July 1, 1961” in two places, “October 1, 1962” for “October 1, 1961”, and “November 10, 1962” for “November 10, 1961” in two places.
- 1960 Pub. L. 86-564 Pub. L. 86–564 substituted “July 1, 1961” for “July 1, 1960” in two places, “October 1, 1961” for “October 1, 1960”, and “November 10, 1961” for “November 10, 1960” in two places.
- 1959 Pub. L. 86-75 Pub. L. 86–75 substituted “July 1, 1960” for “July 1, 1959” in two places, “October 1, 1960” for “October 1, 1959” and “November 10, 1960” for “November 10, 1959” in two places.
- 1958 Pub. L. 85-475 Pub. L. 85–475 substituted “July 1, 1959” for “July 1, 1958” in two places, “October 1, 1959” for “October 1, 1958”, and “November 10, 1959” for “November 10, 1958” in two places.
- 1957 Pub. L. 85-12 Pub. L. 85–12, substituted “July 1, 1958” for “April 1, 1957” in two places, “October 1, 1958” for “July 1, 1957”, and “November 10, 1958” for “August 10, 1957” in two places.
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(2) Definitions For purposes of this section—
Amended 1961, 1970, 1976
- 1976 Pub. L. 94-455 Pub. L. 94–455, § 1906(a)(22), redesignated par. (4) as (2). Former par. (2) redesignated (1).
- 1976 Pub. L. 94-280 Pub. L. 94–280 substituted “1979” for “1977” in two places and “1980” for “1978” in three places, respectively.
- 1970 Pub. L. 91-605 Pub. L. 91–605 substituted in two places “1977” for “1972” and “March 31, 1978” for “February 10, 1973”, and substituted “January 1, 1978” for “January 1, 1973”.
- 1961 Pub. L. 87-61 Pub. L. 87–61, § 206(c), inserted tubes in heading, authorized credit or refund for articles subject to the tax imposed by section 4071(a)(3), prohibited credit or refund with respect to inner tubes for bicycle tires, and substituted “October 1, 1972” for “July 1, 1972” in two places, “February 10, 1973” for “November 10, 1972” in two places, and “January 1, 1973” for “October 1, 1972”.
(A) The term “dealer” includes a wholesaler, jobber, distributor, or retailer.
Amended 1984
- 1984 Pub. L. 98-369 Pub. L. 98–369, § 735(c)(12)(C), substituted “The term ‘dealer’ includes a wholesaler, jobber, distributor, or retailer” for “The term ‘dealer’ includes a wholesaler, jobber, distributor, or retailer, or, in the case of tread rubber subject to tax under section 4071(a)(4), includes any person (other than the manufacturer, producer, or importer thereof) who holds such tread rubber for sale or use”.
(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.
Amended 1955, 1956
- 1956 Act June 29, 1956, redesignated par. (5) of subsec. (a) as subsec. (b) and substituted “manufacturer, producer, or importer” for “person”, and struck out provisions that required claims for credit or refund to be filed before July 1, 1956. Former subsec. (b) was covered by par. (2) of subsec. (a).
- 1956 Act Mar. 29, 1956, substituted “April 1, 1957” for “April 1, 1956” in three places, and “July 1, 1957” for “July 1, 1956”.
- 1955 Act Mar. 30, 1955, substituted “April 1, 1956” for “April 1, 1955” and “July 1, 1956” for “July 1, 1955” wherever appearing.
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(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.
Amended 1956, 1984
- 1984 Pub. L. 98-369 Pub. L. 98–369, § 735(c)(12)(D), substituted “4071” for “4061, 4071,”.
- 1956 Act June 29, 1956, included taxes imposed by section 4071 of this title.