[Code of Federal Regulations]

[Title 26, Volume 16]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 26CFR48.4061-1]



[Page 92-93]

 

                       TITLE 26--INTERNAL REVENUE

 

    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 

                               (CONTINUED)

 

PART 48_MANUFACTURERS AND RETAILERS EXCISE TAXES--Table of Contents

 

 Subpart H_Motor Vehicles, Tires, Tubes, Tread Rubber, and Taxable Fuel

 

Sec.  48.4061-1  Temporary regulations with respect to floor stock 

refunds or credits on cement mixers.



    (a) In general--(1) Refund or credit. Pub. L. 91-678 (84 Stat. 2062, 

Jan. 12, 1971) provides that if:

    (i) A manufacturer, producer, or importer paid the tax imposed by 

section 4061 (relating to imposition of tax on motor vehicles) on the 

sale of a cement mixer after June 30, 1968, and before January 1, 1970, 

and

    (ii) Such cement mixer was held by a dealer on January 1, 1970, for 

purposes of resale and was not used,



the manufacturer, producer, or importer is entitled to a credit or 

refund (without interest) of the amount of tax he paid on his sale of 

such cement mixer.

    (2) Time for filing claim. The manufacturer, producer, or importer 

entitled to a credit or refund under subparagraph (1) of this paragraph 

shall file his claim for credit or refund on or before October 31, 1971, 

based upon a request submitted to the manufacturer, producer, or 

importer on or before July 31, 1971, by the dealer who held the cement 

mixer in respect of which the credit or refund is claimed. Before he 

files his claim for credit or refund, the manufacturer, producer, or 

importer shall either reimburse the dealer for the amount of tax he is 

claiming with respect to the cement mixer or obtain written consent from 

the dealer to claim such tax.



[[Page 93]]



    (3) Other provisions applicable. All provisions of law, including 

penalties, applicable in respect of the taxes imposed by section 4061 of 

such Code shall, insofar as applicable and not inconsistent with Pub. L. 

91-678 apply in respect of the credits and refunds provided for in this 

section to the same extent as if the credits or refunds constituted 

overpayments of the taxes.

    (b) Definitions. For purposes of this section:

    (1) Cement mixer. The term ``cement mixer'' means:

    (i) Any article designed to be placed or mounted on an automobile 

truck chassis or truck trailer or semitrailer chassis and to be used to 

process or prepare concrete, and

    (ii) Parts or accessories designed primarily for use on or in 

connection with an article described in subdivision (i) of this 

subparagraph.

    (2) Dealer. The term ``dealer'' includes a wholesaler, jobber, 

distributor, or retailer.

    (3) Held by a dealer. A cement mixer shall be considered as ``held 

by a dealer'' if title thereto has passed to the dealer (whether or not 

delivery to him has been made), and if for purposes of consumption title 

to the cement mixer or possession thereof had not at any time prior to 

January 1, 1970, been transferred to any person other than a dealer. For 

purposes of paragraph (a) of this section and notwithstanding the 

preceding sentence, a cement mixer shall be considered as ``held by a 

dealer'' and not to have been used, although possession of such cement 

mixer has been transferred to another person, if such cement mixer is 

returned to the dealer in a transaction under which any amount paid or 

deposited by the transferee for such cement mixer is refunded to him 

(other than amounts retained by the dealer to cover damage to the cement 

mixer). Moreover, such a cement mixer shall be considered as held by a 

dealer on January 1, 1970, even though it was in the possession of the 

transferee on such day, if it was returned to the dealer (in a 

transaction described in the preceding sentence) before January 31, 

1970. The determination as to the time title passes or possession is 

obtained for purposes of consumption shall be made under applicable 

local law. (See subdivisions (iii), (iv), and (v) of paragraph (b)(4) of 

Sec.  145.2-1 of this subchapter for examples illustrating the 

provisions of this subparagraph.)

    (c) Other requirements. All the requirements of paragraph (c) 

(relating to participation of dealers), paragraph (d) (relating to claim 

for credit or refund), paragraph (e) (relating to evidence to be 

retained), and paragraph (f) (relating to effect on other claims for 

refund or credit) of Sec.  48.6412-1 are applicable (to the extent they 

are not inconsistent with section 4061 and Pub. L. 91-678) with respect 

to a claim for credit or refund under this section. With respect to 

claims for credit or refund under this section, the term ``dealer 

request limitation date'' and ``claim limitation date'' used in 

paragraphs (c) and (d) of Sec.  48.6412-1 means July 31, 1971, and 

October 31, 1971, respectively.



[T.D. 7090, 36 FR 3893, Mar. 2, 1971]