Sec. 18. existing contracts
195 words·~1 min read·
/statute-compilations/comps-10254/sec-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 18 existing contracts **[**[7 U.S.C. 618](/us/usc/t7/s618)**]** ###
(a)If
(1)any processor, jobber, or wholesaler has, prior to the date a tax with respect to any commodity is first imposed under this title, made a bona fide contract of sale for delivery on or after such date, of any article processed wholly or in chief value from such commodity, and if
(2)such contract does not permit the addition to the amount to be paid thereunder of the whole of such tax, then (unless the contract prohibits such addition) the vendee shall pay so much of the tax as is not permitted to be added to the contract price. ###
(b)Taxes payable by the vendee shall be paid to the vendor at the time the sale is consummated and shall be collected and paid to the United States by the vendor in the same manner as other taxes under this title. In case of failure or refusal by the vendee to pay such taxes to the vendor, the vendor shall report the facts to the Commissioner of Internal Revenue who shall cause collections of such taxes to be made from the vendee.
Connectionstraces to 1
Traces to 1 document