Page:United States Statutes at Large Volume 72 Part 1.djvu/1353

 72 S T A T. ]

PUBLIC LAW 8 5 - 8 5 9 - S E P T. 2, 1958

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the tax imposed on the sale of such other article, an amount determined by multiplying- the applicable percentage rate of tax for such other article by— "(1) the purchase price (less, in the case of tires, the part of such price attributable to the metal rim or rim base) if such tires or inner tubes were taxable under section 4071 (relating 26 USC 407i. to tax on tires and inner tubes) or, in the case of automobile radio or television receiving sets, if such sets were taxable under section 4141; or "(2) if such tires, inner tubes, or automobile radio or television receiving sets were taxable under section 4218 (relating to use by manufacturer, producer, or importer), the price (less, in the case of tires, the part of such price attributable to the metal rim or rim base) at which such or similar tires, inner tubes, or sets are sold, in the ordinary course of trade, by manufacturers, producers, or importers thereof, as determined by the Secretary or his delegate. The credit provided by this subsection shall be allowable only in respect of the first sale on or in connection with, or with the sale of, another article on the sale of which tax is imposed under chapter 32." 26 USC 406U (b) EFFECTIVE DATE.—Section 6416(b) of the Internal Revenue Code of 1954, as amended by this Act, shall apply only with respect to articles exported, sold, or resold, as the case may be, on or after the effective date specified in section 1(c) of this Act. (c) ACCOUNTING PROCEDURES; MEANING OF TERMS.—Section 6416

is amended by adding at the end thereof the following new subsections: " (g) AUTOMOBILES, ETC.—Under regulations prescribed by the Secretary or his delegate, subsection (b)(2)(A) shall apply, in the case of any article subject to the tax imposed by sections 4061(a), 4111, 4121, and 4141, only if the article with respect to which the tax was paid was sold by the manufacturer, producer, or importer for export after receipt by him of notice of intent to export or to resell for export. " (h) ACCOUNTING PROCEDURES FOR L I K E ARTICLES.—Under regula-

tions prescribed by the Secretary or his delegate, if any person uses or resells like articles, then for purposes of this section the manufacturer, producer, or importer of any such article may be identified, and the amount of tax paid under chapter 32 in respect of such article may be determined— "(1) on a first-in-first-out basis, "(2) on a last-in-first-out basis, or "(3) in accordance with any other consistent method approved by the Secretary or his delegate. " (i) MEANING OF TERMS.—For purposes of this section, any term used in this section has the same meaning as when used in chapter 31, 32, or 33, as the case may be."

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(d) TECHNICAL AMENDMENTS.—

(1) Section 6415(a) (credits or refunds to persons who collected certain taxes) is amended by adding at the end thereof 26 USC (5415. the following: " For purposes of this subsection, in the case of any payment outside the United States in respect of which tax is imposed under paragraph (1), (2), or (3) of section 4231, the person who paid for the admission or for the use of the box or seat shall be considered the person from whom the tax was collected." (2) Section 6420(c)(3)(A) (gasoline used on farms) is 26 USC 6420. amended by striking out "section 6416(b)(2)(C) ( i i) " each place it appears and inserting in lieu thereof "section 6416(b) (2)(G) (ii)". 98395-59-PT. 1-83

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