Sec. 107. Cover over of distilled spirits taxes
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Section 7652 of the Internal Revenue Code of 1986 is amended by striking subsection
(f)and by redesignating subsections
(g)and
(h)as subsections
(f)and (g), respectively. Section 7652(f)(1) of such Code, as redesignated by paragraph (1), is amended by— striking subparagraph (B), and by striking as if— and all that follows through the use and tax and inserting as if the use and tax . The amendments made by this subsection shall apply to distilled spirits brought into the United States after December 31, 2019. Section 7652(e) of the Internal Revenue Code of 1986 is amended by redesignating paragraphs (3), (4), and
(5)as paragraphs (4), (5), and (6), respectively, and by inserting after paragraph
(2)the following new paragraph: From any amount otherwise required to be covered over to the treasury of Puerto Rico under this section with respect to taxes collected on rum under section 5001(a)(1) or subsection
(a)of this section, the Secretary of the Treasury shall transfer to the Puerto Rico Conservation Trust Fund an amount equal to $0.46 per proof gallon of rum to which such cover over is attributable. Any amount transferred under the preceding sentence shall be treated for purposes of this section (other than this paragraph) as having been covered over to the treasury of Puerto Rico. For purposes of this section, the term Puerto Rico Conservation Trust Fund means the fund established pursuant to a Memorandum of Understanding between the United States Department of the Interior and the Commonwealth of Puerto Rico, dated December 24, 1968. . The amendments made by this section shall apply to rum brought into the United States after December 31, 2019. Section 7652 of the Internal Revenue Code of 1986, as amended by subsection (a)(1), is amended by adding at the end the following new subsection: For purposes of subsections (a)(3), (b)(3), and (e), the amount of taxes imposed and collected under section 5001(a)(1) shall be determined without regard to section 5001(c). . Section 7652(e) of such Code, as amended by subsection (b)(1), is amended by striking paragraph (6). The amendments made by this subsection shall take effect as if included in section 13807 of Public Law 115–97 .
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Sec. 107
Cover over of distilled spirits taxes
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