Page:United States Statutes at Large Volume 98 Part 1.djvu/555

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 507

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(2) SUBSECTION (b).—The amendments made by subsection (b) 26 USC 613A. shall take effect on January 1, 1984. SEC. 26. EXCISE TAX ON COMMUNICATIONS SERVICES. Paragraph (2) of section 4251(b) (relating to rate of tax on commu- 26 USC 4251. nications services) is amended by striking out the table contained therein and inserting in lieu thereof the following: "With respect to amount paid pursuant to bills first rendered: During 1983, 1984, 1986, or 1987 During 1988 or thereafter

The applicable percentage is: 3 0."

SEC. 27. EXCISE TAX ON DISTILLED SPIRITS. (a) IMPOSITION OF TAX.—

(1) IN GENERAL.—Paragraphs (1) and (3) of section 5001(a) 26 USC 5001. (relating to rate of tax on distilled spirits) are each amended by I striking out "$10.50" and inserting in lieu thereof "$12.50'\ (2) TECHNICAL AMENDMENT.—Paragraphs (1) and (2) of section 5010(a) (relating to credit for wine content and for flavors 26 USC 5010. content) are each amended by striking out "$10.50" and inserting in lieu thereof "$12.50". t) 26 USC 500i (1) IMPOSITION OF TAX.—On distilled spirits on which tax was note. imposed under section 5001 or 7652 of the Internal Revenue Code of 1954 before October 1, 1985, and which were held on such date for sale by any person, there shall be imposed a tax at the rate of $2.00 for each proof gallon and a proportionate tax at the like rate on all fractional parts of a proof gallon. (2) EXCEPTION FOR CERTAIN SMALL WHOLESALE OR RETAIL DEAL-
 * O> FLOOR STOCKS TAXES ON DISTILLED SPIRITS.—

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ERS.—No tax shall be imposed by paragraph (1) on distilled spirits held on October 1, 1985, by any dealer if— (A) the aggregate liquid volume of distilled spirits held by such dealer on such date does not exceed 500 wine gallons, and (B) such dealer submits to the Secretary (at the time and in the manner required by the Secretary) such information as the Secretary shall require for purposes of this paragraph. (3) CREDIT AGAINST TAX.—Each dealer shall be allowed as a credit against the taxes imposed by paragraph (1) an amount equal to $800. Such credit shall not exceed the amount of taxes imposed by paragraph (1) for which the dealer is liable.

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(4) LlABILITY FOR TAX AND METHOD OF PAYMENT.— (A) LIABILITY FOR TAX.—A person holding distilled

spirits on October 1, 1985, to which the tax imposed by paragraph (1) applies shall be liable for such tax.

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(B) METHOD OF PAYMENT.—The tax imposed by paragraph

(1) shall be paid in such manner as the Secretary shall by regulations prescribe. (C) T I M E FOR PAYMENT.—

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(i) IN GENERAL.—Except as provided in clause (ii), the tax imposed by paragraph (1) shall be paid on or before April 1, 1986. (ii) INSTALLMENT PAYMENT OF TAX IN CASE OF SMALL

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OR MIDDLE-SIZED DEALERS.—In the case of any small or middle-sized dealer, the tax imposed by paragraph (1) may be paid in 3 equal installments due as follows:

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