26 U.S.C. § 5175
§ 5175. Export bonds
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1958 by the Technical Amendments Act of 1958. Last changed August 5, 1997 by the Taxpayer Relief Act of 1997.
Every change, newest first (5)
- August 5, 1997Taxpayer Relief Act of 1997
- July 26, 1979Public Law 96-39
- November 14, 1977Public Law 95-176
- October 4, 1976Tax Reform Act of 1976
- September 2, 1958Technical Amendments Act of 1958 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
No distilled spirits shall be withdrawn from bonded premises for exportation, or for transfer to a customs bonded warehouse, without payment of tax unless the exporter has furnished bond to cover such withdrawal under such regulations and conditions, and in such form and penal sum, as the Secretary may prescribe.
In the case of distilled spirits withdrawn from bonded premises by the proprietor for exportation without payment of tax, the bond of such proprietor required to be furnished under paragraph (1) of section 5173(a) covering such premises shall cover such exportation, and subsection (a) shall not apply.
The bonds given under subsection (a) shall be cancelled or credited and the bonds liable under subsection (b) credited if there is such proof of exportation as the Secretary may by regulations require.