The IRC allows a proprietor to transfer and receive spirits, wines, and industrial alcohol as provided in paragraphs (a) through (c) of this section. (a) Spirits. Bulk spirits or denatured spirits may be transferred in bond between the bonded premises of plants qualified under 26 U.S.C. 5171 or

political division of a State, or the District of Columbia for nonbeverage purposes as provided in 26 U.S.C. 5214(a)(2) issued on form TTB F 5150.33 under part 22 of this chapter; (c) Upon receipt of a valid permit issued under this part to procure spirits by and for the use of the United States under the provisions of

on such spirits by 26 U.S.C. 7652. Such spirits so withdrawn and transferred to a distilled spirits plant (a) may be redistilled or denatured only if of 185 degrees or more of proof; and (b) may be withdrawn from internal revenue bond for any purpose authorized by 26 U.S.C. chapter 51, in the same

The appropriate TTB officer may issue a citation for the contemplated disapproval of an application for a tobacco permit provided for in 26 U.S.C. 5713, if the appropriate TTB officer on examination of the application has reason to believe— (a) The premises on which it is proposed to conduct the business are not adequate to protect the

Any person who removes, sells, transports, or uses distilled spirits, withdrawn free of tax under section 5214(a) or section 7510, in violation of laws or regulations now or hereafter in force pertaining thereto, and all such distilled spirits shall be subject to all provisions of law relating to

(a) General rule—(1) Withholding on gross amount. Except as otherwise provided in regulations under section 1441, the amount subject to withholding under §1.1441-1 is the gross amount of income subject to withholding that is paid to a foreign person. The gross amount of income subject to

, or an S corporation; (2) Satisfies the gross receipts test of paragraph (d) of this section; and (3) Satisfies the base erosion percentage test of paragraph (e) of this section. (c) Aggregation rules—(1) In general. Solely for purposes of this section and

property to which section 301 applies— (1) Distributions in lieu of moneyIf the distribution is, at the election of any of the shareholders (whether exercised before or after the declaration thereof), payable either— (A) in its stock, or (B) in property.

This subpart covers the taxation of distilled spirits and the procedures for payment of taxes by proprietors of distilled spirits plants. Issues covered in this subpart include tax rates, liability for tax, tax determination, return periods, filing of tax returns, forms of payment, electronic fund transfers, and credits under 26 U.S.C. 5010.

The regulations in this subpart relate to the limitations imposed by 26 U.S.C. 6423, on the refund or credit of tax paid or collected in respect to any article of a kind subject to a tax imposed by 26 U.S.C. chapter 52. [T.D

section 121 (relating to gain on sale of principal residence); and (2) within 1 year after the date of the reacquisition of such property by the seller, such property is resold by him, then, under regulations prescribed by the Secretary, subsections (b), (c), and (d) of this section shall not apply to the reacquisition of such property and, for purposes

liable for payment and financial intermediaries, without the involvement of the Secretary, and (D) ensure that tax matters will be resolved by the Secretary, without the involvement of financial intermediaries. (2) Authority to enter into contractsNotwithstanding section 3718(f) of title 31, United States Code, the

(B) Taxes subsequently paidAny such taxes if subsequently paid— (i) shall be taken into account for the taxable year to which such taxes relate, and (ii) shall be translated as provided in section 986(a)(2)(A). (3) Adjustments

(a) Operations at, and withdrawals from, distilled spirits plant must be covered by bond (1) OperationsExcept as provided under section 5551(d), no person intending to establish a distilled spirits plant may commence operations at such plant unless such person has furnished bond covering

(a) In general. A taxpayer may account for MACRS property (as defined in §1.168(b)-1(a)(2)) by treating each individual asset as an account (a “single asset account” or an “item account”) or by combining two or more assets in a single account (a “multiple asset account” or a “pool”). A taxpayer may establish as many

(a) In general. Except as provided in paragraphs (b), (c), and (d) of this section, section 401(a)(26) and the regulations thereunder apply to plan years beginning on or after January 1, 1989. (b) Transition rules—(1) Governmental plans and certain section 403(b) annuities. Section 401(a)(26) is treated as satisfied for

income, the amount of such credit is the total of the taxes deemed distributed to such beneficiary under section 666 (b) and (c) as a result of such accumulation distribution for preceding taxable years of the trust on the last day of which such beneficiary was in being, less the amount of such taxes for such preceding taxable years taken into account in reducing the amount of partial tax determined under

(a) Withheld from wages—(1) In general. Except as otherwise provided in paragraphs (a)(2), (a)(3), (a)(4), and (b) of this section, and in §31.6011(a)-5, every person required to make a return of income tax withheld from wages pursuant to section 3402 shall make a return for the

use one method for satisfying the income test described in paragraph (a) of §53.4942(b)-1 and another for satisfying either the assets, endowment, or support test described in §53.4942(b)-2. Thus, if a foundation satisfies the income test on the 3-out-of-4-year basis for a particular

(a) Allowance of creditIn the case of an individual who is a citizen or resident of the United States (within the meaning of section 7701(a)(9)), there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the aggregate amount of qualified contributions made by the taxpayer during

§§1.167(b)-1, 1.167(b)-2, 1.167(b)-3, and 1.167(b)-4 shall be deemed to produce a reasonable allowance for depreciation except as limited under section 167(c) and §1.167(c)-1. See also §1.167(e)-1 for rules

(a) The amount of the Federal estate tax attributable to the transferred property in the present decedent's estate is the “second limitation”. Thus, the credit is limited to the difference between— (1) The net estate tax payable (see paragraph (b)(5) or (c), as the case may be, of §20.0-2) with respect to the present decedent's estate

(a) Quarterly returns. Each quarterly return required under §40.6011(a)-1(a)(2) must be filed by the last day of the first calendar month following the quarter for which it is made. (b) Monthly and semimonthly returns—(1)

approval given a manufacturer does not affect a manufacturer's tax liability for tires sold prior to the effective date of the notice of termination. (Secs. 4071(b), 4071(c), 4073(c), and 7805, Internal Revenue Code of 1954. (80 Stat. 331, 26 U.S.C. 4071(b); 68A Stat. 482,

amount of lobbying expenditures on which no tax is due) is the lobbying nontaxable amount or, on expenditures for influencing legislation through grass roots lobbying, the grass roots nontaxable amount (see paragraph (c) of this section). For rules concerning the application of the excise tax imposed by section 4911(a) to the members of an affiliated group of organizations (as defined in §56.4911-7(e

other than Puerto Rico and the Virgin Islands, the claim must show: (1) Proof gallons of the finished product derived from Puerto Rican or Virgin Islands spirits, or derived from rum imported from any other area; and (2) The amount of tax imposed by 26 U.S.C. 7652 or

As used in this subpart, the following terms have the meanings indicated. Alcohol fuel plant. A special type of distilled spirits plant authorized under 26 U.S.C. 5181 and established under this subpart solely for producing, processing, and storing, and using or distributing distilled spirits to be