26-U.S.C.-6412
§6412 – Floor Stocks Refunds
Pathway
Title 26 > Subtitle F > Chapter 65 > Subchapter B > Section 6412
Details
- Reference: Section 6412
- Legend: §6412 – Floor Stocks Refunds
- USCode Year: 2013
Provision Content
(a) In general
(1) Tires and taxable fuel
Where before October 1, 2016, 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, 2016, if claim for such credit or refund is filed with the Secretary on or before March 31, 2017, based upon a request submitted to the manufacturer, producer, or importer before January 1, 2017, by the dealer who held the article in respect of which the credit or refund is claimed, and, on or before March 31, 2017, 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.
(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.
(Aug. 16, 1954, ch. 736, 68A Stat. 795; Mar. 30, 1955, ch. 18, §3(b)(4), 69 Stat. 15; Mar. 29, 1956, ch. 115, §3(b)(4), 70 Stat. 67; May 29, 1956, ch. 342, §19, 70 Stat. 221; June 29, 1956, ch. 462, title II, §208(a), 70 Stat. 392; Pub. L. 85–12, §3(b)(4), Mar. 29, 1957, 71 Stat. 10; Pub. L. 85–475, §3(b)(4), June 30, 1958, 72 Stat. 260; Pub. L. 85–859, title I, §162(a), Sept. 2, 1958, 72 Stat. 1306; Pub. L. 86–75, §3(b)(3), June 30, 1959, 73 Stat. 158; Pub. L. 86–342, title II, §201(c)(4), Sept. 21, 1959, 73 Stat. 614; Pub. L. 86–564, title II, §202(b)(3), June 30, 1960, 74 Stat. 291; Pub. L. 86–592, §2, July 6, 1960, 74 Stat. 330; Pub. L. 87–15, §2(b), Mar. 31, 1961, 75 Stat. 40; Pub. L. 87–61, title II, §206 (c), (d), June 29, 1961, 75 Stat. 127; Pub. L. 87–72, §3(b)(3), June 30, 1961, 75 Stat. 193; Pub. L. 87–456, title III, §302(d), May 24, 1962, 76 Stat. 77; Pub. L. 87–508, §3(b)(3), June 28, 1962, 76 Stat. 114; Pub. L. 87–535, §18(b), July 13, 1962, 76 Stat. 166; Pub. L. 88–52, §3(b)(1)(C), June 29, 1963, 77 Stat. 72; Pub. L. 88–348, §2(b)(1)(C), June 30, 1964, 78 Stat. 237; Pub. L. 89–44, title II, §209(a), (d), June 21, 1965, 79 Stat. 141, 144; Pub. L. 89–368, title II, §201(b), Mar. 15, 1966, 80 Stat. 66; Pub. L. 90–285, §1(a)(2), Apr. 12, 1968, 82 Stat. 92; Pub. L. 90–364, title I, §105(a)(2), June 28, 1968, 82 Stat. 265; Pub. L. 91–172, title VII, §702(a)(2), Dec. 30, 1969, 83 Stat. 660; Pub. L. 91–605, title III, §303(b), Dec. 31, 1970, 84 Stat. 1744; Pub. L. 91–614, title II, §201(a)(2), Dec. 31, 1970, 84 Stat. 1843; Pub. L. 92–178, title IV, §401(g)(5), Dec. 10, 1971, 85 Stat. 533; Pub. L. 94–280, title III, §303(b), May 5, 1976, 90 Stat. 457; Pub. L. 94–455, title XIX, §1906(a)(22), (b)(13)(A), Oct. 4, 1976, 90 Stat. 1826, 1834; Pub. L. 95–599, title V, §502(c), Nov. 6, 1978, 92 Stat. 2757; Pub. L. 95–618, title II, §231(f)(1), Nov. 9, 1978, 92 Stat. 3189; Pub. L. 97–424, title V, §516(a)(5), Jan. 6, 1983, 96 Stat. 2183; Pub. L. 98–369, div. A, title VII, §735(c)(12), July 18, 1984, 98 Stat. 983; Pub. L. 100–17, title V, §502(d)(1), Apr. 2, 1987, 101 Stat. 257; Pub. L. 101–508, title XI, §11211(f)(1), Nov. 5, 1990, 104 Stat. 1388–427; Pub. L. 102–240, title VIII, §8002(c)(1), Dec. 18, 1991, 105 Stat. 2203; Pub. L. 103–66, title XIII, §13242(d)(16), Aug. 10, 1993, 107 Stat. 524; Pub. L. 105–178, title IX, §9002(a)(2)(A), June 9, 1998, 112 Stat. 499; Pub. L. 109–59, title XI, §11101(a)(3), Aug. 10, 2005, 119 Stat. 1944; Pub. L. 112–30, title I, §142(c), Sept. 16, 2011, 125 Stat. 356; Pub. L. 112–102, title IV, §402(c), Mar. 30, 2012, 126 Stat. 282; Pub. L. 112–140, title IV, §402(b), June 29, 2012, 126 Stat. 402; Pub. L. 112–141, div. D, title I, §40102(c), July 6, 2012, 126 Stat. 845.)
Amendments
2012—Subsec. (a)(1). 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.
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.
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—Subsec. (a)(1). 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—Subsec. (a)(1). Pub. L. 109–59 substituted 2011 for 2005 and 2012 for 2006 wherever appearing.
1998—Subsec. (a)(1). Pub. L. 105–178 substituted 2005 for 1999 and 2006 for 2000 wherever appearing.
1993—Subsec. (a)(1). Pub. L. 103–66 substituted taxable fuel for gasoline wherever appearing in heading and text.
1991—Subsec. (a)(1). Pub. L. 102–240 substituted 1999 for 1995 and 2000 for 1996 wherever appearing.
1990—Subsec. (a)(1). Pub. L. 101–508 substituted 1995 for 1993 and 1996 for 1994 wherever appearing.
1987—Subsec. (a)(1). Pub. L. 100–17 substituted 1993 for 1988 and 1994 for 1989 wherever appearing.
1984—Subsec. (a)(1). 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)).
Subsec. (a)(2)(A). 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.
Subsec. (c). Pub. L. 98–369, §735(c)(12)(D), substituted 4071 for 4061, 4071,.
1983—Subsec. (a)(1). Pub. L. 97–424, §516(a)(5), substituted 1989 for 1985 and 1988 for 1984 wherever appearing.
1978—Subsec. (a)(1). Pub. L. 95–618 struck out and buses after Trucks in heading.
Pub. L. 95–599 substituted 1984 for 1979 and 1985 for 1980 wherever appearing.
1976—Subsec. (a)(1). 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.
Subsec. (a)(2). Pub. L. 94–455, §1906(a)(22), redesignated par. (4) as (2). Former par. (2) redesignated (1).
Pub. L. 94–280 substituted 1979 for 1977 in two places and 1980 for 1978 in three places, respectively.
Subsec. (a)(4). Pub. L. 94–455, §1906(a)(22), redesignated par. (4) as (2).
1971—Subsec. (a)(1). Pub. L. 92–178 struck out par. (1) which related to general rule for floor stocks refunds on passenger automobiles, etc.
1970—Subsec. (a)(1). 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.
Subsec. (a)(2). 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.
1969—Subsec. (a)(1). Pub. L. 91–172 struck out reference to Jan. 1, 1970, and inserted reference to Jan. 1, 1974.
1968—Subsec. (a)(1). 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,.
Pub. L. 90–285 substituted May 1, 1968 for April 1, 1968.
1966—Subsec. (a)(1). Pub. L. 89–368 substituted January 1, 1966, April 1, 1968, or January 1, 1969, for January 1, 1966, 1967, 1968, or 1969,.
1965—Subsec. (a)(1). 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.
Subsec. (e). Pub. L. 89–44, §209(d), repealed subsec. (e) which related to cross reference.
1964—Subsec. (a)(1). 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—Subsec. (a)(1). 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—Subsec. (a)(1). 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.
Subsec. (d). 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.
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—Subsec. (a)(1). 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.
Subsec. (a)(2). 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.
Subsec. (a)(3). Pub. L. 87–61, §206(d), repealed par. (3) which related to 1961 floor stocks refund on gasoline.
Subsec. (d). 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—Subsec. (a)(1). 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.
Subsec. (d). Pub. L. 86–592 substituted September 30, 1961 for June 30, 1961 after and which, on.
1959—Subsec. (a)(1). 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.
Subsec. (a)(3), (4). Pub. L. 86–342 added par. (3) and redesignated former par. (3) as (4).
1958—Subsec. (a)(1). 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.
Subsec. (d). Pub. L. 85–859 required filing of claims for refund on or before Sept. 30, 1961.
1957—Subsec. (a)(1). 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.
1956—Subsec. (a). 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).
Act Mar. 29, 1956, substituted April 1, 1957 for April 1, 1956 in two places, and July 1, 1957 for July 1, 1956.
Subsec. (b). 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).
Act Mar. 29, 1956, substituted April 1, 1957 for April 1, 1956 in three places, and July 1, 1957 for July 1, 1956.
Subsec. (c). Act June 29, 1956, included taxes imposed by section 4071 of this title.
Subsec. (d). Act May 29, 1956, substituted 1961 for 1957.
1955—Subsecs. (a), (b). Act Mar. 30, 1955, substituted April 1, 1956 for April 1, 1955 and July 1, 1956 for July 1, 1955 wherever appearing.
Effective and Termination Dates of 2012 Amendment
Amendment by Pub. L. 112–141 effective July 1, 2012, see section 40102(f) of Pub. L. 112–141, set out as a note under section 460l–11 of Title 16, Conservation.
Amendment by Pub. L. 112–140 to cease to be effective on July 6, 2012, with text as amended by Pub. L. 112–140 to revert back to read as it did on the day before June 29, 2012, and amendments by Pub. L. 112–141 to be executed as if Pub. L. 112–140 had not been enacted, see section 1(c) of Pub. L. 112–140, set out as a note under section 101 of Title 23, Highways.
Amendment by Pub. L. 112–140 effective July 1, 2012, see section 402(f)(1) of Pub. L. 112–140, set out as a note under section 460l–11 of Title 16, Conservation.
Amendment by Pub. L. 112–102 effective Apr. 1, 2012, see section 402(f) of Pub. L. 112–102, set out as a note under section 460l–11 of Title 16, Conservation.
Effective Date of 2011 Amendment
Amendment by Pub. L. 112–30 effective Oct. 1, 2011, see section 142(f) of Pub. L. 112–30, set out as a note under section 460l–11 of Title 16, Conservation.
Effective Date of 1993 Amendment
Amendment by Pub. L. 103–66 effective Jan. 1, 1994, see section 13242(e) of Pub. L. 103–66, set out as a note under section 4041 of this title.
Effective Date of 1984 Amendment
Amendment by Pub. L. 98–369 effective, except as otherwise provided, as if included in the provisions of the Highway Revenue Act of 1982, title V of Pub. L. 97–424, to which such amendment relates, see section 736 of Pub. L. 98–369, set out as a note under section 4051 of this title.
Effective Date of 1978 Amendment
Amendment by Pub. L. 95–618 applicable with respect to articles sold after Nov. 9, 1978, see section 231(g) of Pub. L. 95–618, set out as a note under section 4222 of this title.
Effective Date of 1971 Amendment
Amendment by Pub. L. 92–178 applicable with respect to articles sold on or after the day after Dec. 10, 1971, see section 401(h)(1) of Pub. L. 92–178, set out as a note under section 4071 of this title.
Effective Date of 1968 Amendments
Pub. L. 90–364, title I, §105(c), June 28, 1968, 82 Stat. 266, provided that: The amendments made by this section [amending this section and sections 4061 and 4251 of this title] shall take effect as of April 30, 1968.
Pub. L. 90–285, §1(b), Apr. 12, 1968, 82 Stat. 92, provided that: The amendments made by subsection (a) [amending this section and sections 4061 and 4251 of this title] shall take effect as of March 31, 1968.
Effective Date of 1965 Amendment
Amendment by Pub. L. 89–44 effective June 22, 1965, see section 701(a) of Pub. L. 89–44, set out as a note under section 4161 of this title.
Effective Date of 1962 Amendments
Amendment by Pub. L. 87–535 effective Jan. 1, 1962, see section 19(a) of Pub. L. 87–535, July 13, 1962, 76 Stat. 167.
Amendment by Pub. L. 87–456 effective with respect to articles entered, or withdrawn from warehouse, for consumption on or after Aug. 31, 1963, see section 501(a) of Pub. L. 87–456, title V, May 24, 1962, 76 Stat. 78.
Effective Date of 1961 Amendment
Amendment by Pub. L. 87–61 effective June 29, 1961, see section 208 of Pub. L. 87–61, set out as a note under section 4041 of this title.
Effective Date of 1958 Amendment
Amendment by Pub. L. 85–859 effective on first day of first calendar quarter which begins more than 60 days after Sept. 2, 1958, see section 1(c) of Pub. L. 85–859, Sept. 2, 1958, 72 Stat. 1275.
Effective Date of 1956 Amendments
Amendment by act June 29, 1956, effective June 29, 1956, see section 211 of act June 29, 1956, set out as a note under section 4041 of this title.
Amendment by act May 29, 1956, effective as of Jan. 1, 1956, see section 22 of act May 29, 1956, ch. 342, 70 Stat. 221.
Floor Stock Refunds
Pub. L. 89–44, title II, §209(b), June 21, 1965, 79 Stat. 142, provided that where any article subject to taxes under section 4111, 4121, 4141, 4151, 4161, 4191 or 4451 of this title before June 21, 1965, or subject to taxes under section 4061(b), 4091(1), or 4131 of this title before Jan. 1, 1966, had been sold by the manufacturer, importer or producer and on such date held by the dealer and not used, there was to be credited or refunded to the manufacturer, importer or producer an amount equal to the difference between the tax paid by him on his sale of the article and the amount of tax made applicable to the article on such date where certain conditions were satisfactorily met.
Extension of Time for Filing Claims for Floor Stocks Refunds
Pub. L. 91–642, §1, Dec. 31, 1970, 84 Stat. 1880, provided that if a claim for credit or refund was filed by a manufacturer, importer or producer on or before the 90th day after Dec. 31, 1970, such filing was deemed to have satisfied the requirements of section 209(b)(1)(A) of Pub. L. 89–44 for filing on or before Feb. 10, 1966, or Aug. 10, 1966.
Refunds Respecting Consumer Purchases
Pub. L. 89–44, title II, §209(c), June 21, 1965, 79 Stat. 143, provided that if after May 14, 1965, but before June 21, 1965, a new automotive item subject to the tax imposed by section 4061(a)(2) of this title, or a new self-contained air-conditioning unit subject to the tax imposed by section 4111 of this title, had been sold to an ultimate purchaser, there was to be credited or refunded to the manufacturer, producer, or importer an amount equal to the difference between the tax paid by the manufacturer, producer, or importer on his sale of the article and the tax made applicable to the article on such date if certain conditions were met.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-6334 in the Legal Encyclopedia: Tax Administration
In this entry about 26-U.S.C.-6334, find legal reference material, bibliographies and premiere content related to tax administration in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax administration-specific issues, written by authorities in the field.
26-U.S.C.-6407 in the Legal Encyclopedia: Tax Procedure
In this entry about 26-U.S.C.-6407, find legal reference material, bibliographies and premiere content related to tax procedure in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax procedure-specific issues, written by authorities in the field.
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