26 U.S.C. § 4671 : US Code - Section 4671: Imposition of tax

Search 26 U.S.C. § 4671 : US Code - Section 4671: Imposition of tax

(a) General rule
There is hereby imposed a tax on any taxable substance sold or
used by the importer thereof.
(b) Amount of tax
(1) In general
Except as provided in paragraph (2), the amount of the tax
imposed by subsection (a) with respect to any taxable substance
shall be the amount of the tax which would have been imposed by
section 4661 on the taxable chemicals used as materials in the
manufacture or production of such substance if such taxable
chemicals had been sold in the United States for use in the
manufacture or production of such taxable substance.
(2) Rate where importer does not furnish information to Secretary
If the importer does not furnish to the Secretary (at such time
and in such manner as the Secretary shall prescribe) sufficient
information to determine under paragraph (1) the amount of the
tax imposed by subsection (a) on any taxable substance, the
amount of the tax imposed on such taxable substance shall be 5
percent of the appraised value of such substance as of the time
such substance was entered into the United States for
consumption, use, or warehousing.
(3) Authority to prescribe rate in lieu of paragraph (2) rate
The Secretary may prescribe for each taxable substance a tax
which, if prescribed, shall apply in lieu of the tax specified in
paragraph (2) with respect to such substance. The tax prescribed
by the Secretary shall be equal to the amount of tax which would
be imposed by subsection (a) with respect to the taxable
substance if such substance were produced using the predominant
method of production of such substance.
(c) Exemptions for substances taxed under sections 4611 and 4661
No tax shall be imposed by this section on the sale or use of any
substance if tax is imposed on such sale or use under section 4611
or 4661.
(d) Tax-free sales, etc. for substances used as certain fuels or in
the production of fertilizer or animal feed
Rules similar to the following rules shall apply for purposes of
applying this section with respect to taxable substances used or
sold for use as described in such rules:
(1) Paragraphs (2), (5), and (9) of section 4662(b) (relating
to tax-free sales of chemicals used as fuel or in the production
of fertilizer or animal feed).
(2) Paragraphs (2), (3), and (4) of section 4662(d) (relating
to refund or credit of tax on certain chemicals used as fuel or
in the production of fertilizer or animal feed).
(e) Termination
No tax shall be imposed under this section during any period
during which the Hazardous Substance Superfund financing rate under
section 4611 does not apply.