Page:United States Statutes at Large Volume 96 Part 2.djvu/822

 96 STAT. 2184

PUBLIC LAW 97-424—JAN. 6, 1983

26 USC 165 note.

indirectly, any motor carrier operating authority a t the time of such acquisition, and "(ii) the acquisition referred to in clause (i) would have satisfied the requirements of subparagraph (A) if the stock had been acquired by a corporation, then, for purposes of subparagraphs (A) and (C), the noncorporate taxpayer or group of noncorporate taxpayers referred to in clause (i) shall be treated as a corporation. The preceding sentence shall apply only if such noncorporate taxpayer (or group of noncorporate taxpayers) on July 1, 1980, held stock constituting control (within the meaning of section 368(c) of the Internal Revenue Code of 1954) of the corporation holding (directly or indirectly) the motor carrier operating authority." (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to taxable years ending after July 30, 1980.

26 USC 4081

SEC. 518. EXTENSION OF PAYMENT DUE DATE FOR CERTAIN FUEL TAXES.

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(a) 14-DAY EXTENSION.—The Secretary shall prescribe regulations which permit any qualified person whose liability for tax under section 4081 of the Internal Revenue Code of 1954 is payable with respect to semi-monthly periods to pay such tax on or before the day which is 14 days after the close of such semi-monthly period if such payment is made by wire transfer to any government depository authorized under section 6302 of such Code. (b) QuAUFiED PERSON DEFINED.—For purposes of this section— (1) IN GENERAL.—The term "qualified person" means— (A) any person other than any person whose average daily production of crude oil for the preceding calendar quarter exceeds 1,000 barrels, and (B) any independent refiner (within the meaning of section 4995(b)(4) of such Code).

26 USC 368.

26 USC 6302.

26 USC 4995.

(2) AGGREGATION RULES.—For purposes of paragraph (1), in

26 USC 4992.

determining whether any person's production exceeds 1,000 barrels per day, rules similar to the rules of section 4992(e) of the Internal Revenue Code of 1954 shall apply. (c) SPECIAL RULE WHERE 14TH DAY FALLS ON SATURDAY, SUNDAY,

OR HouDAY.—If, but for this subsection, the due date under subsection (a) would fall on a Saturday, Sunday, or a holiday in the District of Columbia, such due date shall be deemed to be the immediately preceding day which is not a Saturday, Sunday, or such a holiday.

Subtitle C—Floor Stock Provisions 26 USC 4061

SEC. 521. FLOOR STOCKS TAXES.

Ante, p. 2181.

(a) 1983 TAX ON GASOLINE.—On gasoline subject to tax under section 4081 which, on April 1, 1983, is held by a dealer for sale, there is hereby imposed a floor stocks tax at the rate of 5 cents a gallon. Qy) 1984 TAX ON TIRES.—On any article which would be subject to tax under section 4071(a) if sold by the manufacturer, producer, or importer on or after January 1, 1984, which on January 1, 1984, is held by a dealer and has not been used and is intended for sale, there shall be imposed a floor stocks tax equal to the excess of the amount of tax which would be imposed on such article if it were sold by the manufacturer, producer, or importer after January 1, 1984,

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