Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_4042
Timestamp: 2020-07-05 10:57:55
Document Index: 641336154

Matched Legal Cases: ['§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042', '§ 4042']

Internal Revenue Code, § 4042. Tax On Fuel Used In Commercial Transportation On Inland Waterways
§ 4042
I.R.C. § 4042(a) In General —
I.R.C. § 4042(b) Amount Of Tax
I.R.C. § 4042(b)(1) In General —
The rate of the tax imposed by subsection (a) is the sum of—
I.R.C. § 4042(b)(1)(A) —
the Inland Waterways Trust Fund financing rate, and
I.R.C. § 4042(b)(1)(B) —
the Leaking Underground Storage Tank Trust Fund financing rate.
I.R.C. § 4042(b)(2) Rates —
I.R.C. § 4042(b)(2)(A) —
The Inland Waterways Trust Fund financing rate is 29 cents per gallon.
I.R.C. § 4042(b)(2)(B) —
I.R.C. § 4042(b)(3) Exception For Fuel On Which Leaking Underground Storage Tank Trust Fund Financing Rate Separately Imposed —
I.R.C. § 4042(b)(4) Termination Of Leaking Underground Storage Tank Trust Fund Financing Rate —
I.R.C. § 4042(c) Exemptions
I.R.C. § 4042(c)(1) Deep-Draft Ocean-Going Vessels —
I.R.C. § 4042(c)(2) Passenger Vessels —
I.R.C. § 4042(c)(3) Use By State Or Local Government In Transporting Property In A State Or Local Business —
I.R.C. § 4042(c)(4) Use In Moving Lash And Seabee Ocean-Going Barges —
The tax imposed by subsection (a) shall not apply with respect to use for movement by tug of exclusively LASH (Lighter-aboard-ship) and SEABEE ocean-going barges released by their ocean-going carriers solely to pick up or deliver international cargos.
I.R.C. § 4042(d) Definitions —
I.R.C. § 4042(d)(1) Commercial Waterway Transportation —
The term “commercial waterway transportation” means any use of a vessel on any inland or intracoastal waterway of the United States—
I.R.C. § 4042(d)(1)(A) —
I.R.C. § 4042(d)(1)(B) —
I.R.C. § 4042(d)(2) Inland Or Intracoastal Waterway Of The United States —
The term “inland or intracoastal waterway of the United States” means any inland or intracoastal waterway of the United States which is described in section 206 of the Inland Waterways Revenue Act of 1978.
I.R.C. § 4042(d)(3) Person —
The term “person” includes the United States, a State, a political subdivision of a State, or any agency or instrumentality of any of the foregoing.
I.R.C. § 4042(e) Date For Filing Return —
(Added by Pub. L. 95-502, title II, Sec. 202(a), Oct. 21, 1978, 92 Stat. 1696, and amended by Pub. L. 99-499, title V, Sec. 521(a)(3), Oct. 17, 1986, 100 Stat. 1777; Pub. L. 99-662, title XIV, Sec. 1404(a), Nov. 17, 1986, 100 Stat. 4270; Pub. L. 100-647, title II, Sec. 2002(a)(2), Nov. 10, 1988, 102 Stat. 3597; Pub. L. 103-66, title XIII, Sec. 13241(d), Aug. 10, 1993, 107 Stat. 312; Pub. L. 108-357, title II, Sec. 241(b), Oct. 22, 2004, 118 Stat. 1418; Pub. L. 110-172, Sec. 6(d)(1)(B), Dec. 29, 2007, 121 Stat. 2473; Pub. . 113-295, Div. B, title II, Sec. 205, Dec. 19, 2014, 128 Stat. 4010; Pub. L. 115-141, Div. U, title IV, Sec. 401(b)(40) and (41), Mar. 23, 2018, 132 Stat. 348.)
2018--Subsec. (b)(1). Pub. L. 115-141, Div. U, Sec. 401(b)(40), amended par. (1) by adding ‘‘and’’ at the end of subpar. (A), by striking ‘‘, and’’ at the end of subpar. (B) and inserting a period, and by striking subpar. (C). Before being struck, subpar. (C ) read as follows: “the deficit reduction rate.”
Subsec. (b)(2). Div. U, Sec. 401(b)(41), amended par. (2) by striking subpar. (C). Before being struck, subpar. (C ) read as follows:
(C) The deficit reduction rate is--
2014--Subsec. (b)(2)(A). Pub. L. 113-295, Div. B, Sec. 205(a), amended subpar. (A). Before amendment, it read as follows:
“(A) the Inland Waterways Trust Fund financing rate is the rate determined in accordance with the following table:
If the use occurs:			gallon is:
Before 1990.............................10 cents
During 1990.............................11 cents
During 1991.............................13 cents
During 1992.............................15 cents
During 1993.............................17 cents
During 1994.............................19 cents
After 1994..............................20 cents”
2007--Subsec. (b)(3). Pub. L. 110-172, Sec. 6(d)(1)(B), amended par. (3). Before amendment, it read as follows:
“(3) Exception For Fuel Taxed Under Section 4041(d)— The Leaking Underground Storage Tank Trust Fund financing rate under paragraph (2)(B) shall not apply to the use of any fuel if tax under section 4041(d) was imposed on the sale of such fuel or is imposed on such use.”
2004--Subsec. (b)(2)(C). Pub. L. 108-357, Sec. 241(b), amended subpar. (C). Before amendment it read as follows:
“(C) The deficit reduction rate is 4.3 cents per gallon.”
1993—Subsec. (b)(1). Pub. L. 103-66, Sec. 13241(d)(1), amended par. (1) by striking “and” at the end of subpar. (A), by substituting “, and” for the period at the end of subpar. (B), and by adding subpar. (C).
Subsec. (b)(2). Pub. L. 103-66, Sec. 13241(d)(2), amended par. (2) by adding subpar. (C).
1988--Subsec. (b)(2). Pub. L. 100-647 amended par. (2) generally. Prior to amendment, par. (2) read as follows: ‘For purposes of paragraph (1) -
‘(A) the Inland Waterways Trust Fund financing rate is 10 cents a gallon, and
‘(B) the Leaking Underground Storage Tank Trust Fund financing rate is 0.1 cents a gallon.’
1986--Subsec. (b). Pub. L. 99-499 and Pub. L. 99-662 both amended subsec. (b) generally, effective Jan. 1, 1987. Pub. L. 100-647, Sec. 2002(a)(1) (see Construction of 1986 Amendments note below), provided that for purposes of this section, the amendment made by Pub. L. 99-499 be treated as enacted after the amendment made by Pub. L. 99-662. Prior to amendment by Pub. L. 99-499 and Pub. L. 99-662, subsec. (b) read as follows: --------------------------------------------------------------------- ---------------------------------------------------------------------
‘If the use occurs -               The tax is -
After September 30, 1980 and
before October 1, 1981          4 cents a gallon
After September 30, 1981 and
before October 1, 1983          6 cents a gallon
After September 30, 1983 and
before October 1, 1985          8 cents a gallon
After September 30, 1985       10 cents a gallon'.
Amendment by Pub. L. 115-141, Div. U, Sec. 401(b)(40) and (41), effective March 23, 2018.
Amendment by Pub. L. 113-295, Div. B, Sec. 205(a), effective for fuel used after March 31, 2015.
Amendment by Section 6(d)(1)(B) of Pub. L. 110-172 effective as if included in the provisions of the Energy Policy Act of 2005 [Pub. L. 109-58, Sec. 1362] to which it relates.
Amendment by Section 241(b) of Pub. L. 108-357 effective January 1, 2005.
Amendment by Section 13241(d) of Pub. L. 103-66 effective October 1, 1993.
Section 2002(d) of Pub. L. 100-647, as amended by Pub. L. 101-239, title VII, Sec. 7812(b), Dec. 19, 1989, 103 Stat. 2412, provided that: ‘The amendments made by subsections (b) and (c) (amending section 4462 of this title and provisions set out as a note under section 4461 of this title) shall take effect as if included in the provision of the Harbor Maintenance Revenue Act of 1986 (Pub. L. 99-662, title XIV) to which it relates, and the amendment made by subsection (a)(2) (amending this section) shall take effect as if included in the amendment made by section 521(a)(3) of the Superfund Revenue Act of 1986 (Pub. L. 99-499, title V).'
Section 1404(c) of Pub. L. 99-662 provided that: ‘The amendments made by this section (amending this section and section 1804 of Title 33, Navigation and Navigable Waters) shall take effect on January 1, 1987.’
Amendment by Pub. L. 99-499 effective Jan. 1, 1987, see section 521(e) of Pub. L. 99-499, set out as a note under section 4041 of this title.
Section 202(d) of Pub. L. 95-502 provided that: ‘The amendments made by this section (enacting this section and amending section 4293 of this title) shall take effect on October 1, 1980.’
LEAKING UNDERGROUND STORAGE TANK TRUST FUND FINANCING RATE
Section 6(d)(1)(C) of Pub. L. 110-172 provided that:
“(C) Notwithstanding section 6430 of the Internal Revenue Code of 1986, a refund, credit, or payment may be made under subchapter B of chapter 65 of such Code for taxes imposed with respect to any liquid after September 30, 2005, and before the date of the enactment of this Act [Enacted: Dec. 29, 2007] under section 4041(d)(1) or 4042 of such Code at the Leaking Underground Storage Tank Trust Fund financing rate to the extent that tax was imposed with respect to such liquid under section 4081 at the Leaking Underground Storage Tank Trust Fund financing rate.”
Section 11166(a) of Pub. L. 109-59 provided that:
“On and after the date of the enactment of this Act, the Secretary of the Treasury shall require that a vessel described in section 4042(c)(1) of the Internal Revenue Code of 1986 be considered a vessel for purposes of the registration of the operator of such vessel under section 4101 of such Code, unless such operator uses such vessel exclusively for purposes of the entry of taxable fuel.”
Section 2002(a)(1) of Pub. L. 100-647 provided that:
“For purposes of section 4042 of the 1986 Code, the amendment made by section 521(a)(3) of the Superfund Revenue Act of 1986 (Pub. L. 99-499, amending this section) shall be treated as enacted after the amendment made by section 1404(a) of the Harbor Maintenance Revenue Act of 1986 (Pub. L. 99-662, amending this section).”
A prior section 4042, act Aug. 16, 1954, ch. 736, 68A Stat. 478 , which provided a cross reference to section 4222 of this title for exemption from tax where special motor fuels are sold for use for certain vessels, was repealed by Pub. L. 94-455, title XIX, Sec. 1904(a)(1)(D), Oct. 4, 1976, 90 Stat. 1811.