§ 6412. Floor stocks refunds

§ 6412. Floor stocks refunds

(a) In general

(1) Tires and taxable fuel Where before October 1, 2028, any article subject to the tax imposed by section 4071 or 4081 has been sold by the manufacturer, producer, or importer and on such date is held by a dealer and has not been used and is intended for sale, there shall be credited or refunded (without interest) to the manufacturer, producer, or importer an amount equal to the difference between the tax paid by such manufacturer, producer, or importer on his sale of the article and the amount of tax made applicable to such article on and after October 1, 2028, if claim for such credit or refund is filed with the Secretary on or before March 31, 2029, based upon a request submitted to the manufacturer, producer, or importer before January 1, 2029, by the dealer who held the article in respect of which the credit or refund is claimed, and, on or before March 31, 2029, reimbursement has been made to such dealer by such manufacturer, producer, or importer for the tax reduction on such article or written consent has been obtained from such dealer to allowance of such credit or refund. No credit or refund shall be allowable under this paragraph with respect to taxable fuel in retail stocks held at the place where intended to be sold at retail, nor with respect to taxable fuel held for sale by a producer or importer of taxable fuel.

(2) Definitions For purposes of this section—

(A) The term “dealer” includes a wholesaler, jobber, distributor, or retailer.

(B) An article shall be considered as “held by a dealer” if title thereto has passed to such dealer (whether or not delivery to him has been made), and if for purposes of consumption title to such article or possession thereof has not at any time been transferred to any person other than a dealer.

(b) Limitation on eligibility for credit or refund No manufacturer, producer, or importer shall be entitled to credit or refund under subsection (a) unless he has in his possession such evidence of the inventories with respect to which the credit or refund is claimed as may be required by regulations prescribed under this section.

(c) Other laws applicable All provisions of law, including penalties, applicable in respect of the taxes imposed by sections 4071 and 4081 shall, insofar as applicable and not inconsistent with subsections (a) and (b) of this section, apply in respect of the credits and refunds provided for in subsection (a) to the same extent as if such credits or refunds constituted overpayments of such taxes.

(Aug. 16, 1954, ch. 736, 68A Stat. 795; Mar. 30, 1955, ch. 18, § 3(b)(4), 69 Stat. 15; Mar. 29, 1956, ch. 115, § 3(b)(4), 70 Stat. 67; May 29, 1956, ch. 342, § 19, 70 Stat. 221; June 29, 1956, ch. 462, title II, § 208(a), 70 Stat. 392; Pub. L. 85–12, § 3(b)(4), Mar. 29, 1957, 71 Stat. 10; Pub. L. 85–475, § 3(b)(4), June 30, 1958, 72 Stat. 260; Pub. L. 85–859, title I, § 162(a), Sept. 2, 1958, 72 Stat. 1306; Pub. L. 86–75, § 3(b)(3), June 30, 1959, 73 Stat. 158; Pub. L. 86–342, title II, § 201(c)(4), Sept. 21, 1959, 73 Stat. 614; Pub. L. 86–564, title II, § 202(b)(3), June 30, 1960, 74 Stat. 291; Pub. L. 86–592, § 2, July 6, 1960, 74 Stat. 330; Pub. L. 87–15, § 2(b), Mar. 31, 1961, 75 Stat. 40; Pub. L. 87–61, title II, § 206 (c), (d), June 29, 1961, 75 Stat. 127; Pub. L. 87–72, § 3(b)(3), June 30, 1961, 75 Stat. 193; Pub. L. 87–456, title III, § 302(d), May 24, 1962, 76 Stat. 77; Pub. L. 87–508, § 3(b)(3), June 28, 1962, 76 Stat. 114; Pub. L. 87–535, § 18(b), July 13, 1962, 76 Stat. 166; Pub. L. 88–52, § 3(b)(1)(C), June 29, 1963, 77 Stat. 72; Pub. L. 88–348, § 2(b)(1)(C), June 30, 1964, 78 Stat. 237; Pub. L. 89–44, title II, § 209(a), (d), June 21, 1965, 79 Stat. 141, 144; Pub. L. 89–368, title II, § 201(b), Mar. 15, 1966, 80 Stat. 66; Pub. L. 90–285, § 1(a)(2), Apr. 12, 1968, 82 Stat. 92; Pub. L. 90–364, title I, § 105(a)(2), June 28, 1968, 82 Stat. 265; Pub. L. 91–172, title VII, § 702(a)(2), Dec. 30, 1969, 83 Stat. 660; Pub. L. 91–605, title III, § 303(b), Dec. 31, 1970, 84 Stat. 1744; Pub. L. 91–614, title II, § 201(a)(2), Dec. 31, 1970, 84 Stat. 1843; Pub. L. 92–178, title IV, § 401(g)(5), Dec. 10, 1971, 85 Stat. 533; Pub. L. 94–280, title III, § 303(b), May 5, 1976, 90 Stat. 457; Pub. L. 94–455, title XIX, § 1906(a)(22), (b)(13)(A), Oct. 4, 1976, 90 Stat. 1826, 1834; Pub. L. 95–599, title V, § 502(c), Nov. 6, 1978, 92 Stat. 2757; Pub. L. 95–618, title II, § 231(f)(1), Nov. 9, 1978, 92 Stat. 3189; Pub. L. 97–424, title V, § 516(a)(5), Jan. 6, 1983, 96 Stat. 2183; Pub. L. 98–369, div. A, title VII, § 735(c)(12), July 18, 1984, 98 Stat. 983; Pub. L. 100–17, title V, § 502(d)(1), Apr. 2, 1987, 101 Stat. 257; Pub. L. 101–508, title XI, § 11211(f)(1), Nov. 5, 1990, 104 Stat. 1388–427; Pub. L. 102–240, title VIII, § 8002(c)(1), Dec. 18, 1991, 105 Stat. 2203; Pub. L. 103–66, title XIII, § 13242(d)(16), Aug. 10, 1993, 107 Stat. 524; Pub. L. 105–178, title IX, § 9002(a)(2)(A), June 9, 1998, 112 Stat. 499; Pub. L. 109–59, title XI, § 11101(a)(3), Aug. 10, 2005, 119 Stat. 1944; Pub. L. 112–30, title I, § 142(c), Sept. 16, 2011, 125 Stat. 356; Pub. L. 112–102, title IV, § 402(c), Mar. 30, 2012, 126 Stat. 282; Pub. L. 112–140, title IV, § 402(b), June 29, 2012, 126 Stat. 402; Pub. L. 112–141, div. D, title I, § 40102(c), July 6, 2012, 126 Stat. 845; Pub. L. 114–94, div. C, title XXXI, § 31102(c), Dec. 4, 2015, 129 Stat. 1727; Pub. L. 117–58, div. H, title I, § 80102(c), Nov. 15, 2021, 135 Stat. 1327.)

Editorial Notes

Amendments

2021—Subsec. (a)(1). Pub. L. 117–58 substituted “October 1, 2028” for “October 1, 2022” in two places and “March 31, 2029” for “March 31, 2023” in two places and substituted “January 1, 2029” for “January 1, 2023”.

2015—Subsec. (a)(1). Pub. L. 114–94 substituted “October 1, 2022” for “October 1, 2016” in two places and “March 31, 2023” for “March 31, 2017” in two places and substituted “January 1, 2023” for “January 1, 2017”.

2012—Subsec. (a)(1). Pub. L. 112–141 substituted in two places “October 1, 2016” for “July 1, 2012” and “March 31, 2017” for “December 31, 2012” and substituted “January 1, 2017” for “October 1, 2012”.

Pub. L. 112–140, §§ 1(c), 402(b), temporarily substituted in two places “July 7, 2012” for “July 1, 2012” and “January 6, 2013” for “December 31, 2012” and temporarily substituted “October 7, 2012” for “October 1, 2012”. See Effective and Termination Dates of 2012 Amendment note below.

Pub. L. 112–102 substituted in two places “July 1, 2012” for “April 1, 2012” and “December 31, 2012” for “September 30, 2012” and substituted “October 1, 2012” for “July 1, 2012”.

2011—Subsec. (a)(1). Pub. L. 112–30 substituted in two places “April 1, 2012” for “October 1, 2011” and “September 30, 2012” for “March 31, 2012” and substituted “July 1, 2012” for “January 1, 2012”.

2005—Subsec. (a)(1). Pub. L. 109–59 substituted “2011” for “2005” and “2012” for “2006” wherever appearing.

1998—Subsec. (a)(1). Pub. L. 105–178 substituted “2005” for “1999” and “2006” for “2000” wherever appearing.

1993—Subsec. (a)(1). Pub. L. 103–66 substituted “taxable fuel” for “gasoline” wherever appearing in heading and text.

1991—Subsec. (a)(1). Pub. L. 102–240 substituted “1999” for “1995” and “2000” for “1996” wherever appearing.

1990—Subsec. (a)(1). Pub. L. 101–508 substituted “1995” for “1993” and “1996” for “1994” wherever appearing.

1987—Subsec. (a)(1). Pub. L. 100–17 substituted “1993” for “1988” and “1994” for “1989” wherever appearing.

1984—Subsec. (a)(1). Pub. L. 98–369, § 735(c)(12)(A), (B), substituted “Tires and gasoline” for “Trucks, tires, tubes, tread rubber, and gasoline” in heading, and in text substituted “Where before October 1, 1988, any article subject to the tax imposed by section 4071 or 4081 has been sold by the manufacturer, producer, or importer and on such date is held by a dealer and has not been used and is intended for sale,” for “Where before October 1, 1988, any article subject to the tax imposed by section 4061(a)(1), 4071((a)(1), (3) or (4), or 4081 has been sold by the manufacturer, producer, or importer and on such date is held by a dealer and has not been used and is intended for sale (or, in the case of tread rubber, is intended for sale or is held for use),”, and struck out provision that no credit or refund shall be allowable under this paragraph with respect to inner tubes for bicycle tires (as defined in section 4221(e)(4)(B)).

Subsec. (a)(2)(A). Pub. L. 98–369, § 735(c)(12)(C), substituted “The term ‘dealer’ includes a wholesaler, jobber, distributor, or retailer” for “The term ‘dealer’ includes a wholesaler, jobber, distributor, or retailer, or, in the case of tread rubber subject to tax under section 4071(a)(4), includes any person (other than the manufacturer, producer, or importer thereof) who holds such tread rubber for sale or use”.

Subsec. (c). Pub. L. 98–369, § 735(c)(12)(D), substituted “4071” for “4061, 4071,”.

1983—Subsec. (a)(1). Pub. L. 97–424, § 516(a)(5), substituted “1989” for “1985” and “1988” for “1984” wherever appearing.

1978—Subsec. (a)(1). Pub. L. 95–618 struck out “and buses” after “Trucks” in heading.

Pub. L. 95–599 substituted “1984” for “1979” and “1985” for “1980” wherever appearing.

1976—Subsec. (a)(1). Pub. L. 94–455, § 1906(a)(22), (b)(13)(A), redesignated par. (2) as (1) and struck out “or his delegate” after “Secretary”. Prior par. (1) had been repealed by Pub. L. 92–178, title IV, § 401(g)(5), Dec. 10, 1971, 85 Stat. 533.

Subsec. (a)(2). Pub. L. 94–455, § 1906(a)(22), redesignated par. (4) as (2). Former par. (2) redesignated (1).

Pub. L. 94–280 substituted “1979” for “1977” in two places and “1980” for “1978” in three places, respectively.

Subsec. (a)(4). Pub. L. 94–455, § 1906(a)(22), redesignated par. (4) as (2).

1971—Subsec. (a)(1). Pub. L. 92–178 struck out par. (1) which related to general rule for floor stocks refunds on passenger automobiles, etc.

1970—Subsec. (a)(1). Pub. L. 91–614 substituted “January 1 of 1973, 1974, 1978, 1979, 1980, 1981, or 1982” for “January 1, 1971, January 1, 1972, January 1, 1973, or January 1, 1974”.

Subsec. (a)(2). Pub. L. 91–605 substituted in two places “1977” for “1972” and “March 31, 1978” for “February 10, 1973”, and substituted “January 1, 1978” for “January 1, 1973”.

1969—Subsec. (a)(1). Pub. L. 91–172 struck out reference to Jan. 1, 1970, and inserted reference to Jan. 1, 1974.

1968—Subsec. (a)(1). Pub. L. 90–364 substituted “January 1, 1970, January 1, 1971, January 1, 1972, or January 1, 1973,” for “May 1, 1968, or January 1, 1969,”.

Pub. L. 90–285 substituted “May 1, 1968” for “April 1, 1968”.

1966—Subsec. (a)(1). Pub. L. 89–368 substituted “January 1, 1966, April 1, 1968, or January 1, 1969,” for “January 1, 1966, 1967, 1968, or 1969,”.

1965—Subsec. (a)(1). Pub. L. 89–44, § 209(a), made floor stock refunds available with respect to passenger cars in dealers’ inventories on the various reduction dates for the passenger car tax and required claims for credit or refund to be filed on or before the 10th day of the 8th calendar month beginning after the date of the tax reduction.

Subsec. (e). Pub. L. 89–44, § 209(d), repealed subsec. (e) which related to cross reference.

1964—Subsec. (a)(1). Pub. L. 88–348 substituted “July 1, 1965” for “July 1, 1964” in two places, “October 1, 1965” for “October 1, 1964”, and “November 10, 1965” for “November 10, 1964” in two places.

1963—Subsec. (a)(1). Pub. L. 88–52 substituted “July 1, 1964” for “July 1, 1963”, in two places, “October 1, 1964” for “October 1, 1963”, and “November 10, 1964” for “November 10, 1963” in two places.

1962—Subsec. (a)(1). Pub. L. 87–508 substituted “July 1, 1963” for “July 1, 1962” in two places, “October 1, 1963” for “October 1, 1962”, and “November 10, 1963” for “November 10, 1962” in two places.