Page:United States Statutes at Large Volume 47 Part 1.djvu/291

 72d CONGRESS. SESS. I. CH. 209. JUNE 6, 1932 . 267 imported by him, such use shall for the purposes of this title be MANUFACTURERS' TRE RS' considered a sale. (c) As used in this section- Terms construed. (1) th e term "producer" includ es a refiner, compounder, or "producer ." blender, and a dealer selling gasoline exclusively to producers of ga soline, as well as a prod ucer. (2) the term " gasoline" means gasoline, benzol, and any other "Gasoline ." liquid the chief use of which is as a fuel for the propulsion of mo tor vehi cles, mo tor boats, or aer oplanes. SEC. 618. DEF INI TIO N OF SALE. "sale ." For the purposes of this title, the lease of an article shall be considered the sale of such article. SEC. 619. SAL E PRICE. Sale price. (a) In determining, for the purposes of this title, the price e r s oe,ings,na contain- for which an article is sold, there shall be included any charge for cover ings and co ntain ers o f wha tever natur e, an d any charg e inc i- Tax Imp osed ox. dent to placing the article in condition packed ready for shipment, eluded. but there s411 be excluded the amount of tax imposed by this title, Tra nspor tation , do. whether or not stated as a separate charge. A transportation, de- liver y, etc ., char ges. livery, insuran ce, insta llation, or othe r charge (not re quired b 9 the foregoing sentence to be included) shall be excluded from the price only if the amount thereof is established to the satisfaction of the Commissioner, in accordance with the regulations. (b) If an article is- Computation oftax I( article sold at less than 1) sold at retail ; fair market price. 2 sold on consignment ; or 3 sold (otherwise than through an arm's-length transaction) at less than the fair market price ; the tax under this title shall (if based on the price for which the article is sold ) be comp uted on the pric e for wh ich such article s are sold, in the ordinary course of trade, by manufacturers or. producers thereof, as determined by the Commissioner. (c) In the case of (1)- a lease, (2) a contract for the sale of an Proportionate pay. article wherein it is provided that the price shall be paid by install- so ld d` on `sisstatbnent ments and titl e to the article sold do es not pa ss until a futur e date etc . conditional sale notwithstanding partial payment by installments, or (3) a condi- tional sale, there shall be paid upon each payment with respect to the article that portion of the total tax which is proportionate to the por tion of the tota l am ount to be paid rep rese nted by such payment. SEC. 620. SALE OF ARTICLES FOR FURTHER MANUFACTURE. Sale of articles for fur_ Und er reg ula tion s p res cri bed by the Commissioner w ith the that manufacture . approval of the Secretary, no tax under this title shall be imposed Taxexemptlons. upon any article (other than a tire or inner tube, or an article taxable orTe res,lubes .andfurs under section 60 4, relating to the tax o n furs) sold for use as Ante, p. 261 . material in the manufacture or production, of, or for use as a com- ponent part of, an article to be manufactured or produced by the vendee which will be taxable under this title or sold free of tax by virtue of this section. If the vendee resells an article sold to Resale by vendee, him free of tax under this section, then for the purposes of this title he shall be considered the manufacturer or producer of such article. SEC. 621. CREDITS AND REFUNDS. Credits and refunds. (a) A credit against tax under this title, or a refund, may be To whom allowed. allowed or made- Manufacturer orpro- (1) to a manufacturer or producer, in the amount of any tax ducer when using taxed under this title which has been paid with respect to the sale of articles .