26 U.S.C. § 4681
§ 4681. Imposition of tax
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1989 by the Omnibus Budget Reconciliation Act of 1989. Last changed August 5, 1997 by the Taxpayer Relief Act of 1997.
Every change, newest first (4)
- August 5, 1997Taxpayer Relief Act of 1997
- October 24, 1992Public Law 102-486
- November 5, 1990Omnibus Budget Reconciliation Act of 1990
- December 19, 1989Omnibus Budget Reconciliation Act of 1989 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
There is hereby imposed a tax on—
any ozone-depleting chemical sold or used by the manufacturer, producer, or importer thereof, and
any imported taxable product sold or used by the importer thereof.
The amount of the tax imposed by subsection (a) on each pound of ozone-depleting chemical shall be an amount equal to—
the base tax amount, multiplied by
the ozone-depletion factor for such chemical.
The base tax amount for purposes of subparagraph (A) with respect to any sale or use during any calendar year after 1995 shall be $5.35 increased by 45 cents for each year after 1995.
The amount of the tax imposed by subsection (a) on any imported taxable product shall be the amount of tax which would have been imposed by subsection (a) on the ozone-depleting chemicals used as materials in the manufacture or production of such product if such ozone-depleting chemicals had been sold in the United States on the date of the sale of such imported taxable product.
Rules similar to the rules of paragraphs (2) and (3) of section 4671(b) shall apply.