[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR19.38]

[Page 363]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 19_DISTILLED SPIRITS PLANTS--Table of Contents
 
                             Subpart C_Taxes
 
Sec.  19.38  Inventory reserve account.

    (a) The proprietor may establish an inventory reserve account for 
any eligible distilled spirits product by maintaining an inventory 
reserve record as prescribed by 19.764. The effective tax rate applied 
to each removal or other disposition will be the effective tax rate 
recorded on the inventory reserve record from which the removal or other 
disposition is depleted.
    (b) If the appropriate TTB officer finds that the use of this 
procedure jeopardizes the revenue or causes administrative difficulty, 
the proprietor shall discontinue the use of this procedure.

(Sec. 807, Pub. L. 96-39, 93 Stat. 284 (26 U.S.C. 5207); Sec. 201, Pub. 
L. 85-859, 72 Stat. 1356, as amended (26 U.S.C. 5201); Sec. 6, Pub. L. 
96-598, 94 Stat. 3488, as amended (26 U.S.C. 5010))

                                 Claims