Industry Circular Number: 55-5
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U.S. TREASURY DEPARTMENT |
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Floor Stocks Tax Refunds CAUTION A BILL ON MARCH 17, 1955 WAS BEING CONSIDERED BY A HOUSESENATE CONFERENCE COMMITTEE WHICH WOULD CONTINUE THE PRESENT RATES OF TAX ON LIQUORS. IF SUCH PROPOSED LEGISLATION BECOMES LAW ON OR BEFORE APRIL 1, THE INSTRUCTIONS SET FORTH BELOW WILL NOT APPLY SINCE THERE WOULD BE NO CHANGE IN TAX RATES AND THEREFORE NO REFUNDS. To Wholesale Liquor Dealers, Retail Liquor Dealers, and Others Concerned: Are you eligible for a tax refund? YES! IF on April 1,1955 you hold taxpaid distilled spirits, imported perfumes containing distilled spirits, beer, or wines for sale (or for use in the manufacture or preparation of nonbeverage products), and comply with requirements described herein. How much will the refund be? AMOUNTS VARY-Refunds are authorized on fully taxpaid articles as follows:
What must you do? TWO THINGS MUST BE DONEFIRST, at the close of business on March 31,1955, take an inventory of all articles on which you desire to claim floor stocks tax refund and SECOND, file such inventory with a claim for refund with the Assistant Regional Commissioner, Alcohol and Tobacco Tax. How do you prepare your inventory? Inventory reports must be prepared as indicated by the instructions in the attachment to this circular. Short-cuts 1. Kinds of spirits may be abbreviated; "brandy" as "B" "gin" as "G", etc, 2. Where serial numbers of a group of cases run consecutively, it will be sufficient to report the first and last numbers, separated by a hyphen. 3. You may group your distilled spirits items by proof if you like, using one or more pages for each proof, IF you group the items by proof, you need only total the wine gallons on each sheet so used and then convert that one figure to proof gallons. This saves converting to proof gallons for each item. Where do you get the claim form? From the Assistant Regional Commissioner, Alcohol and Tobacco Tax, of the internal revenue region in which you are located on or after April 15, 1955. You must retain the duplicate copy of Form 2163 at the address shown on the claim. The duplicate copy of each inventory will be retained at the place of business for which the inventory is prepared. These duplicate copies must be available for inspection by any internal revenue office until April 1,1957. When must the claim be filed? Not later than May 1,1955 or within thirty days from the effective date of regulations issued pursuant to section 5063, Internal Revenue Cede of 1954, whichever is the later. Claim and inventory reports must be filed with the Assistant Regional Commission, Alcohol and Tobacco Tax, in the internal revenue region in which you are located. Claimants holding two or more classes of articles (i.e. distilled spirits, wine, beer, etc.)may wish to file claims for refund only on one or more classes of articles. Inventories are not required for those articles which are not to be made the subject of a claim for refund. Manufacturers of nonbeverage products may not claim refund on spirits used, as defines in part 197 of Title 26 of the Code of Federal Regulations, or which have been rendered unit for beverage use, in the manufacturing of nonbeverage products. Spirits recovered in the maufacture of nonbeverage products eligible for drawback are not subject to floor stocks tax refund. Spirits held in process, not yet used or eligible for refund as set forth in part 197, are eligible for floor stocks tax refund and must be identified as to batch number, the name of the product being manufactured, and formula number, if any. Where can you receive help and additional instructions? Additional information is available at the offices of Assistant Regional Commissioners, Alcohol and Tobacco Tax, Supervisors in Charge of branch offices, Alcohol and Tobacco Tax, or District Directors of Internal Revenue, Further, your trade associations, suppliers, etc., have indicated willingness to aid you. Dwight E. Avis,
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