Page:United States Statutes at Large Volume 80 Part 1.djvu/101

 80 STAT.]

PUBLIC LAW 89-368-MAR. 15, 1966

65

uary 1, 1967, such estimated tax shall be paid in installments in accordance with the following table: 'If the declaration is timely filed on or before the 15th day of the—

The following percentages of the etstimated tax shall be paid on the 15th day of the— 4th month 6th month 9th month 12th month

4th month of the taxable year •ith month of the taxable year (but after the 15th day of the 4th month) flth month of the taxable year (but after the 16th day of the 6th month) — 12th month of the taxable year (but after the 15th day of the 9th month) —

"(2) TAXABLE YEARS BEGINNING AFTER I 9 66.—With respect to taxable years beginning after December 31, 1966, such estimated tax shall be paid in installments in accordance with the following table: 'If the declaration is timely filed on or before the 15th day of the—

The following percentages of the estimated tax slull be paid on the 15th day of the— 4th month 6th month 9th month 12th month

4th month of the taxable year. 6th month of the taxable year (but after the 15th day of the 4th month) 9th month of the taxable year (but after the 15th day of the 6th month) I2th month of the taxable year (but after the 15th day of the 9th month)

25

26

25

25

50

50

33J4 100

" (3) TIMELY FILING.—A declaration is timely filed for the purposes of paragraphs (1) and (2) if it is not required by section 6074(a) to be filed on a date (determined without regard to any extension of time for filing the declaration under section 6081) before the date it is actually filed. "(4) LATE FILING.—If the declaration is filed after the time prescribed in section 6074(a) (determined without regard to any extension of time for filing the declaration under section 6081), there shall be paid at the time of such filing all installments of estimated tax which would have been payable on or before such time if the declaration had been filed within the time prescribed in section 6074(a), and the remaining installments shall be paid at the times at which, and in the amounts in which, they would have been payable if the declaration had been so filed." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply with respect to taxable years beginning after December 31, 1965.

26 USC 6074. 26 USC 6081.

TITLE II—POSTPONEMENT OF CERTAIN EXCISE TAX RATE REDUCTIONS SEC. 201. PASSENGER AUTOMOBILES. (a)

POSTPONEMENT OF RATE REDUCTIONS.—Subparagraph (A)

of

section 4061(a)(2) (relating to imposition of tax) is amended to read as follows: " (A) Articles enumerated in subparagraph (B) are taxable at whichever of the following rates is applicable: "7 percent for the period beginning with the day after the date of the enactment of the Tax Adjustment Act of 1966 through March 31, 1968. "2 percent for the period April 1, 1968, through December 31, 1968. "1 percent fbr the period after December 31, 1968."

79 Stat. 136. 26 USC 4061.

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