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Current as of October 02, 2022 | Updated by FindLaw Staff
Where a manufacturer of tobacco products in Puerto Rico desires to defer payment in Puerto Rico of the internal revenue tax imposed by 26 U.S.C. 7652(a), on tobacco products of Puerto Rican manufacture coming into the United States, he shall file a bond, Form 2986, with the appropriate TTB officer, in accordance with the provisions of this subpart. Such bond shall be conditioned on the payment, at the time and in the manner prescribed in this subpart, of the full amount of tax computed under the provisions of this subpart with respect to tobacco products which are released for shipment to the United States on computation of tax. All taxes which are computed under the provisions of this subpart shall be chargeable against the bond, until such taxes are paid, as provided in § 41.112. The bond shall show the location of the factory from which the tobacco products to which it relates are to be shipped.
Cite this article: FindLaw.com - Code of Federal Regulations Title 27. Alcohol, Tobacco Products and Firearms § 27.41.109 Bond required for deferred taxpayment - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-27-alcohol-tobacco-products-and-firearms/cfr-sect-27-41-109/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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