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26 U.S.C. § 5122 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 5122. Recordkeeping by retail dealers

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Receipts.--Every retail dealer in liquors and every retail dealer in beer shall provide and keep in his place of business a record in book form of all distilled spirits, wines, and beer received, showing the quantity thereof and from whom and the dates received, or shall keep all invoices of, and bills for, all distilled spirits, wines, and beer received.

(b) Dispositions.--When he deems it necessary for law enforcement purposes or the protection of the revenue, the Secretary may by regulations require retail dealers in liquors and retail dealers in beer to keep records of the disposition of distilled spirits, wines, or beer, in such form or manner and of such quantities as the Secretary may prescribe.

(c) Retail dealers.--For purposes of this section--

(1) Retail dealer in liquors.--The term “retail dealer in liquors” means any dealer (other than a retail dealer in beer or a limited retail dealer) who sells, or offers for sale, distilled spirits, wines, or beer, to any person other than a dealer.

(2) Retail dealer in beer.--The term “retail dealer in beer” means any dealer (other than a limited retail dealer) who sells, or offers for sale, beer, but not distilled spirits or wines, to any person other than a dealer.

(3) Limited retail dealer.--The term “limited retail dealer” means any fraternal, civic, church, labor, charitable, benevolent, or ex-servicemen's organization making sales of distilled spirits, wine or beer on the occasion of any kind of entertainment, dance, picnic, bazaar, or festival held by it, or any person making sales of distilled spirits, wine or beer to the members, guests, or patrons of bona fide fairs, reunions, picnics, carnivals, or other similar outings, if such organization or person is not otherwise engaged in business as a dealer.

(4) Dealer.--The term “dealer” has the meaning given such term by section 5121(c)(3).

(d) Cross references.--

For provisions relating to the preservation and inspection of records, and entry of premises for inspection, see section 5123.

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Cite this article: FindLaw.com - 26 U.S.C. § 5122 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 5122. Recordkeeping by retail dealers - last updated January 01, 2024 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-5122/

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