Page:United States Statutes at Large Volume 101 Part 2.djvu/1232

 101 STAT. 1330-438

PUBLIC LAW 100-203—DEC. 22, 1987

2057, except that such term shall include employer securities sold before February 27, 1987, for which a deduction was allowed under section 2057. "(8) DISPOSITION.—The term 'disposition' includes any distribution. "(4) LIABILITY FOR PAYMENT OF TAXES.—The tax imposed by this section shall be paid by— "(A) the employer, or "(B) the eligible worker-owned cooperative, which made the written statement described in section 2057(e)." (b) CONFORMING AMENDMENTS.—

(1) Section 4978(b)(2) is amended by striking out the parenthetical and inserting in lieu thereof "(determined as if such securities were disposed of in the order described in section 4978A(e))". (2) The table of sections for chapter 43 is amended by inserting after the item relating to section 4978 the following new item: "Sec. 4978A. Tax on certain dispositions of employer securities to which section 2057 applied."

26 USC 4978 note.

(c) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable events (within the meaning of section 4978A(c) of the Internal Revenue Code of 1986) occurring after February 26, 1987.

Subtitle E—Provisions Relating to Excise Taxes and User Fees PART I—EXCISE TAXES SEC. 10501. EXTENSION OF TELEPHONE EXCISE TAX.

Paragraph (2) of section 4251(b) (relating to applicable percentage) is amended to read as follows: "(2) APPLICABLE PERCENTAGE.—The term 'applicable percentage' means 3 percent; except that, with respect to amounts paid pursuant to bills first rendered after 1990, the applicable percentage shall be zero." SEC. 10502. DIESEL FUEL AND AVIATION FUEL TAXES IMPOSED AT WHOLESALE LEVEL.

(a) IN GENERAL.—Part III of subchapter A of chapter 32 is amended by inserting after subpart A the following new subpart:

"Subpart B—Diesel Fuel and Aviation Fuel

26 USC 4091.

"Sec. 4091. Imposition of tax. "Sec. 4092. Definitions. "Sec. 4093. Exemptions; special rule. "SEC. 4091. IMPOSITION OF TAX.

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"(a) IN GENERAL.—There is hereby imposed a tax on the sale of any taxable fuel by the producer or the importer thereof or by any producer of a taxable fuel. "(b) RATE OF TAX.—

"(1) IN GENERAL.—The rate of the tax imposed by subsection (a) shall be the sum of—

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