ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

26 U.S.C. § 5175 — Export bonds

submitted 68 years ago by Pub. L. 85-859 to r/title-26-INTERNAL-REVENUE-CODE · 147 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section requires an exporter to provide a bond before withdrawing untaxed distilled spirits for export or transfer to a customs bonded warehouse. It explains when the bond is unnecessary, canceled, or credited.

(a) Requirements. Distilled spirits may not be withdrawn from bonded premises for export, or transferred to a customs bonded warehouse, without paying tax unless the exporter has provided a bond covering the withdrawal. The bond must meet the regulations, conditions, form, and penal amount set by the Secretary.

(b) Exception when the proprietor exports. If the proprietor withdraws spirits from bonded premises for export without paying tax, the proprietor’s premises bond required under 26 U.S.C. § 5173(a)(1) covers the export. Subsection (a) does not apply.

(c) Cancellation or credit. A bond given under subsection (a) must be canceled or credited, and a bond liable under subsection (b) must be credited, when the exporter provides the proof of export that the Secretary’s regulations require.

the actual law source: uscode.house.gov ↗public domain
(a) Requirements

No distilled spirits shall be withdrawn from bonded premises for exportation, or for transfer to a customs bonded warehouse, without payment of tax unless the exporter has furnished bond to cover such withdrawal under such regulations and conditions, and in such form and penal sum, as the Secretary may prescribe.

(b) Exception where proprietor withdraws spirits for exportation

In the case of distilled spirits withdrawn from bonded premises by the proprietor for exportation without payment of tax, the bond of such proprietor required to be furnished under paragraph (1) of section 5173(a) covering such premises shall cover such exportation, and subsection (a) shall not apply.

(c) Cancellation or credit of export bonds

The bonds given under subsection (a) shall be cancelled or credited and the bonds liable under subsection (b) credited if there is such proof of exportation as the Secretary may by regulations require.

Source credit: (Added Pub. L. 85–859, title II, § 201, Sept. 2, 1958, 72 Stat. 1352; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95–176, § 3(b), Nov. 14, 1977, 91 Stat. 1365; Pub. L. 96–39, title VIII, § 807(a)(15), July 26, 1979, 93 Stat. 282; Pub. L. 105–34, title XIV, § 1412(a), Aug. 5, 1997, 111 Stat. 1046.)

history & why it existsrecord from the source credit
  • 1958Enacted · Pub. L. 85-859 · 72 Stat. 1352
  • 1976Amended · Pub. L. 94-455 · 90 Stat. 1834
  • 1977Amended · Pub. L. 95-176 · 91 Stat. 1365
  • 1979Amended · Pub. L. 96-39 · 93 Stat. 282
  • 1997Amended · Pub. L. 105-34 · 111 Stat. 1046

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-859 on 1958-09-02.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case