26 U.S.C. § 5364
§ 5364. Wine imported in bulk
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1997 by the Taxpayer Relief Act of 1997. Last changed July 22, 1998 by the IRS Restructuring and Reform Act of 1998.
Every change, newest first (2)
- July 22, 1998IRS Restructuring and Reform Act of 1998
- August 5, 1997Taxpayer Relief Act of 1997 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Natural wine (as defined in section 5381) imported or brought into the United States in bulk containers may, under such regulations as the Secretary may prescribe, be withdrawn from customs custody and transferred in such bulk containers to the premises of a bonded wine cellar without payment of the internal revenue tax imposed on such wine. The proprietor of a bonded wine cellar to which such wine is transferred shall become liable for the tax on the wine withdrawn from customs custody under this section upon release of the wine from customs custody, and the importer, or the person bringing such wine into the United States, shall thereupon be relieved of the liability for such tax.