7 U.S.C. § 618 — Existing contracts; imposition of tax on vendee; collection

submitted 93 years ago by ch. 25 to r/title-7-AGRICULTURE · 185 words · no verdicts yet

in plain englishAI-generated · not legal advice

(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 chapter, 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 chapter.

(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 chapter, 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 under it of the whole of such tax, then (unless the contract prohibits such addition) the vendee must pay so much of the tax as is not permitted to be added to the contract price. (b) Taxes payable by the vendee must be paid to the vendor at the time the sale is consummated and must be collected and paid to the United States by the vendor in the same manner as other taxes under this chapter. In case of failure or refusal by the vendee to pay such taxes to the vendor, the vendor must report the facts to the Commissioner of Internal Revenue who must cause collections of such taxes to be made from the vendee.

the actual law source: uscode.house.gov ↗public domain

(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 chapter, 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 chapter. 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.

Source credit: (May 12, 1933, ch. 25, title I, § 18, 48 Stat. 41.)

history & why it existsrecord from the source credit

1933Enacted · Act of May 12, 1933, ch. 25 · 48 Stat. 41

A history note hasn’t been published yet. The record shows enactment by ch. 25 on 1933-05-12.

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