Page:United States Statutes at Large Volume 48 Part 1.djvu/790

 764 73d CONGRESS. SESS. II. CH. 277. MAY 10, 1934 . EXCISE TAXES. (c) Subject to such rules and regulations as the Commissioner, Credits for s ales to Government. with the approval of the Secretary, may prescribe, any person who has sold to a Sta te, or a political subdivi sion ther eof, for use in th e exercise of an essential governmental function any article containing any such oil, combination, or mixture, upon the processing of which a tax has been paid under this section shall be entitled to a credit or refund of the tax paid with respect to the quantity of such oil, combin ation, or mi xture contai ned in such a rticle. (d) Upon the exportation to any foreign country or to a posses- sion of the United States of any article wholly or in chief value of an article with respect to the processing of which a tax has been paid under this section, the exporter thereof shall be entitled to a refund of the amount of such tax. Upon the giving of bond satisfac- tory to the Secretary for faithful observance of the provisions of this section requiring the payment of taxes, any person shall be entitled, without payment of the tax, to process for such exportation any article with respect to which a tax is imposed by this section. (e) If (1) any person has, prior to January 26, 1934, made a bona fide contract for the sale on or after the effective date of this section of any article wholly or in chief value of an article with respect to which a tax is imposed by this section or of any article with respect to which a tax is imposed by this subsection, and if (2) such contract does not permit the addition to the amount to be paid thereunder of the who le of such t ax, th en (un less t he cont ract e xpress ly pro hibits such addition) the vendee shall pay so much of the tax as is not permitted to be added to the contract price. Taxes payable by the vendee shall be paid to the vendor at the time the sale is consum- mated and shall be returned and paid to the United States by the vendor in the same manner as other taxes under this section. 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, who shall cause collection of such taxes to be made from the vendee. (f) All provisions of law (including penalties) applicable in respect of taxes imposed by section 600 of the Revenue Act of 1926, shall, insofa r as a pplica ble an d not inconsi stent with t his se ction, be applicable in respect of the taxes imposed by this section. (g) All collections except as provided in subsection (a) under this se ction shall, notwi thstan ding a ny othe r prov isions of la w, be covered into the general fund of the Treasury of the United States. Export bounties. Processing, under bond. Sales unde r prior contracts. Collection of taxes under. Existing pro vis io ns continued . Vol.44, p. 93. All collections cov- ered in Lubricating oil and gasoline. Registration, filing bond, etc ., required of dealers. Vol. 47, p. 259. Gasoline. Vol. 47, p. 266. Rate. Exception. Producer or importer using tax-free gasoline ; considered a sale. Producer construed. Vol 47,p.266. SEC. 603. TAXES ON LUBRICATING OIL AND GASOLINE. (a) Section 601 (c) (1) of the Revenue Act of 1932, as amended, is amended by adding after the first sentence thereof the following : "Every person liable for tax tinder this paragraph shall register and file bond as provided in section 617, as amended ." (b) Sections 617 (a) and (b) of the R evenue Act of 1932, as amended, are amended to read as follows "(a) There is hereby imposed on gasoline sold by the producer or importer thereof, or by any producer of gasoline, a tax of 1 cent a ga llon, except that under regula tions p rescri bed by the C ommis- sioner with the approval of the Secretary the tax shall not apply in the case of sales to a producer of gasoline . "(b) If a producer or importer uses (otherwise than in the production of gasoline) gasoline sold to him free of tax, or pro- duced or imported by him, such use shall for the purposes of this title be considered a sale. Any person to whom gasoline is sold tax -free under this s ection on or after the ef fectiv e date of th e Revenue Act of 1932 shall be considered the producer of such gasoline ."