7 U.S.C. § 616
Stock on hand when tax takes effect or terminates
United States · Title 7 — AGRICULTURE · Status: effective
Cite this
- Citation
- 7 U.S.C. § 616, Stock on hand when tax takes effect or terminates, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/429100
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Full text
Upon the sale or other disposition of any article processed wholly or in chief value from any commodity with respect to which a processing tax is to be levied, that on the date the tax first takes effect or wholly terminates with respect to the commodity, is held for sale or other disposition (including articles in transit) by any person, there shall be made a tax adjustment as follows:
Upon the sale or other disposition of any article processed wholly or in chief value from any commodity with respect to which the existing rate of the processing tax is to be increased, or decreased, that on the date such increase, or decrease, first takes effect with respect to the commodity, is held for sale or other disposition (including articles in transit) by any person, and upon the production of any article from a commodity in process on the date on which the rate of the processing tax is to be increased or decreased, there shall be made a tax adjustment as follows:
Legislative history
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