Source: http://www.law.cornell.edu/cfr/text/26/48.6427-10?quicktabs_7=1
Timestamp: 2014-10-24 17:12:26
Document Index: 100075699

Matched Legal Cases: ['art 48', '§ 48', '§ 48', '§ 48', '§ 48', '§ 48']

26 CFR 48.6427-10 - Kerosene; claims by registered ultimate vendors (blocked pumps). | LII / Legal Information Institute
CFR › Title 26 › Chapter I › Subchapter D › Part 48 › Subpart O › Section 48.6427-10 26 CFR 48.6427-10 - Kerosene; claims by registered ultimate vendors (blocked pumps).
§ 48.6427-10
Kerosene; claims by registered ultimate vendors (blocked pumps).
This section provides rules under which certain registered ultimate vendors of taxed kerosene may claim the income tax credits or payments allowed by section 6427(l)(5)(B)(i). These claims relate to kerosene sold from a blocked pump. Claims relating to kerosene sold for use on a farm for farming purposes and by a State are made by registered ultimate vendors under § 48.6427-9; claims relating to kerosene sold during certain periods of extreme cold for blending with diesel fuel to be used for heating purposes are made by registered ultimate vendors (blending) under § 48.6427-11; and claims relating to kerosene used for nontaxable purposes are made by ultimate purchasers under § 48.6427-8.
A blocked pump is a fuel pump that—
Is used to dispense undyed kerosene that is sold at retail for use by the buyer in any nontaxable use;
Is at a fixed location;
Is identified with a legible and conspicuous notice stating “UNDYED UNTAXED KEROSENE, NONTAXABLE USE ONLY”; and
Cannot reasonably be used to dispense fuel directly into the fuel supply tank of a diesel-powered highway vehicle or diesel-powered train (because, for example, of its distance from a road surface or train track or the length of its delivery hose); or
Is locked by the vendor after each sale and unlocked by the vendor only in response to a request by a buyer for undyed kerosene for use other than as a fuel in a diesel-powered highway vehicle or diesel-powered train.
A registered ultimate vendor (blocked pump) is a person that is registered under section 4101 as an ultimate vendor (blocked pump).
An ultimate vendor (blocked pump) is a person that sells undyed kerosene from a blocked pump.
A claim for an income tax credit or payment with respect to undyed kerosene is allowed by section 6427(l)(5)(B)(i) only if—
The claimant sold the kerosene from a blocked pump for its buyer's use other than as a fuel in a diesel-powered highway vehicle or diesel-powered train and the claimant has no reason to believe that the kerosene will not be so used;
The claimant is a registered ultimate vendor (blocked pump);
With respect to each sale of more than five gallons of kerosene from a blocked pump that does not meet the conditions of paragraph (b)(1)(iv)(A) of this section, the claimant has in its possession the date of the sale, name and address of the buyer, and the number of gallons sold to the buyer; and
The claimant has filed a timely claim for a credit or payment that contains the information required under paragraph (e) of this section.
Each claim for a credit or payment under this section must contain the following information with respect to all of the kerosene covered by the claim:
The claimant's ultimate vendor (blocked pump) registration number.
With respect to each sale of more than five gallons of kerosene from a blocked pump that does not meet the conditions of paragraph (b)(1)(iv)(A) of this section, a statement by the claimant that it has in its possession the date of the sale, name and address of the buyer, and the number of gallons sold to the buyer.
For a rule prohibiting a registered ultimate vendor (blocked pump) from delivering kerosene from a blocked pump into the fuel supply tank of a diesel-powered highway vehicle or diesel-powered train, see § 48.4101-1(h)(2)(iv).
[T.D. 8879, 65 FR 17162, Mar. 31, 2000]