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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 27 - Alcohol, Tobacco Products and Firearms |
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Chapter I - Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury |
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SubChapter M - Alcohol, Tobacco and Other Excise Taxes |
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Part 296 - MISCELLANEOUS REGULATIONS RELATING TO TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES |
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Subpart I - Floor Stocks Tax on Cigarettes Held for Sale on January 1, 2000 and on January 1, 2002 |
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Inventories |
§ 296.209 - Cigarettes in a foreign trade zone.
Latest version.
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You are liable for the tax and must take an inventory when either of the following conditions apply:
(a) Internal revenue taxes have been determined or Customs duties liquidated, with respect to cigarettes pursuant to the first proviso of section 3(a) of the Act of June 18, 1934 (48 Stat. 998, 19 U.S.C. 81a), or
(b) Cigarettes are held by a Customs officer pursuant to the second proviso of section 3(a) of the Act of June 18, 1934 (48 Stat. 998, 19 U.S.C. 81a).