26 U.S.C. § 5721 — Inventories
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 72 words · no verdicts yet
This section addresses Inventories. It states the rules, duties, permissions, limits, and procedures for that subject.
Every manufacturer or importer of tobacco products, processed tobacco, or cigarette papers and tubes, and every export warehouse proprietor, must make a true and accurate inventory at the time of commencing business, at the time of concluding business, and at such other times, in such manner and form, and to include such items, as the Secretary* must by regulation prescribe. Such inventories must be subject to verification by any internal revenue officer.
Every manufacturer or importer of tobacco products, processed tobacco, or cigarette papers and tubes, and every export warehouse proprietor, shall make a true and accurate inventory at the time of commencing business, at the time of concluding business, and at such other times, in such manner and form, and to include such items, as the Secretary* shall by regulation prescribe. Such inventories shall be subject to verification by any internal revenue officer.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 713; Pub. L. 85–859, title II, § 202, Sept. 2, 1958, 72 Stat. 1422; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 105–33, title IX, § 9302(h)(2)(A), Aug. 5, 1997, 111 Stat. 674; Pub. L. 111–3, title VII, § 702(a)(2)(A), Feb. 4, 2009, 123 Stat. 108.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1958Amended · Pub. L. 85-859 · 72 Stat. 1422
- 1976Amended · Pub. L. 94-455 · 90 Stat. 1834
- 1997Amended · Pub. L. 105-33 · 111 Stat. 674
- 2009Amended · Pub. L. 111-3 · 123 Stat. 108
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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