§ 47.3-3 - Imposition of the October 1, 1993, floor stocks tax on fuel held on October 1, 1993.

(a) Fuels subject to tax. Section 13241(h)(1) of the Act imposes a floor stocks tax on gasoline (including gasohol), diesel fuel, and aviation fuel—

(1) On which tax was imposed under section 4081 or 4091 before October 1, 1993; and

(2) That is held at the first moment of October 1, 1993, by any person.

(b) Rate of tax. The rate of the October 1, 1993, floor stocks tax is 4.3 cents per gallon.

(c) Person liable for tax. The person liable for tax on any fuel subject to the October 1, 1993, floor stocks tax is the person that holds the fuel at the first moment of October 1, 1993. Fuel is held by a person if the person has title to the fuel (whether or not delivery to that person has been made) at such time, as determined under applicable local law.