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26 U.S.C. § 4105 — Two-party exchanges
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In a two-party exchange, the delivering person shall not be liable for the tax imposed under section 4081(a)(1)(A)(ii).
**(b) Two-party exchange** The term “two-party exchange” means a transaction, other than a sale, in which taxable fuel is transferred from a delivering person registered under section 4101 as a taxable fuel registrant to a receiving person who is so registered where all of the following occur:
(1) The transaction includes a transfer from the delivering person, who holds the inventory position for taxable fuel in the terminal as reflected in the records of the terminal operator.
(2) The exchange transaction occurs before or contemporaneous with completion of removal across the rack from the terminal by the receiving person.
(3) The terminal operator in its books and records treats the receiving person as the person that removes the product across the terminal rack for purposes of reporting the transaction to the Secretary.
(4) The transaction is the subject of a written contract.
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Stable record: federal_law:legal_authorities:record_usc_baa4f968b5b4c1c37abccd9f
Source file: Laws/federal/codes/united-states-code/title-26/section-4105-two-party-exchanges--b47a79cd99.md
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Source location: Title 26, Chapter 32, § 4105; chapter-032-manufacturers-excise-taxes.md
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**(a) In general** In a two-party exchange, the delivering person shall not be liable for the tax imposed under section 4081(a)(1)(A)(ii).
**(b) Two-party exchange** The term “two-party exchange” means a transaction, other than a sale, in which taxable fuel is transferred from a delivering person registered under section 4101 as a taxable fuel registrant to a receiving person who is so registered where all of the following occur:
(1) The transaction includes a transfer from the delivering person, who holds the inventory position for taxable fuel in the terminal as reflected in the records of the terminal operator.
(2) The exchange transaction occurs before or contemporaneous with completion of removal across the rack from the terminal by the receiving person.
(3) The terminal operator in its books and records treats the receiving person as the person that removes the product across the terminal rack for purposes of reporting the transaction to the Secretary.
(4) The transaction is the subject of a written contract.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Tax imposed**
(1) **In general** — There is hereby imposed on coal from mines located in the United States sold by the producer, a tax equal to the rate per ton determined under subsection (b).
(2) **Limitation on tax** — The amount of the tax imposed by paragraph (1) with respect to a ton of coal shall not exceed the applicable percentage (determined under subsection (b)) of the price at which such ton of coal is sold by the producer.
**(b) Determination of rates and limitation on tax** For purposes of subsection (a)—
(1) the rate of tax on coal from underground mines shall be $1.10,
(2) the rate of tax on coal from surface mines shall be $.55, and
(3) the applicable percentage shall be 4.4 percent.
**(c) Tax not to apply to lignite** The tax imposed by subsection (a) shall not apply in the case of lignite.
**(d) Definitions** For purposes of this subchapter—
(1) **Coal from surface mines** — Coal shall be treated as produced from a surface mine if all of the geological matter above the coal being mined is removed before the coal is extracted from the earth. Coal extracted by auger shall be treated as coal from a surface mine.
(2) **Coal from underground mines** — Coal shall be treated as produced from an underground mine if it is not produced from a surface mine.
(3) **United States** — The term “United States” has the meaning given to it by paragraph (1) of section 638.
(4) **Ton** — The term “ton” means 2,000 pounds.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 4121
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Federal law — U.S. Code and appendices · legal_authorities
Page 2917
TITLE 26—INTERNAL REVENUE CODE
§ 4105
EFFECTIVE DATE OF 1983 AMENDMENT
Amendment by Pub. L. 97–424 applicable to articles
sold after Jan. 6, 1983, see section 515(c) of Pub. L.
97–424, set out as a note under section 34 of this title.
EFFECTIVE DATE OF 1976 AMENDMENT
Amendment by Pub. L. 94–455 effective Jan. 1, 1977,
see section 1202(i) of Pub. L. 94–455, set out as a note
under section 6103 of this title.
§ 4103. Certain additional persons liable for tax
where willful failure to pay
In any case in which there is a willful failure
to pay the tax imposed by section 4041(a)(1) or
4081, each person—
(1) who is an officer, employee, or agent of
the taxpayer who is under a duty to assure the
payment of such tax and who willfully fails to
perform such duty, or
(2) who willfully causes the taxpayer to fail
to pay such tax,
shall be jointly and severally liable with the
taxpayer for the tax to which such failure re-
lates.
(Added Pub. L. 101–508, title XI, § 11212(c), Nov. 5,
1990, 104 Stat. 1388–431; amended Pub. L. 103–66,
title XIII, § 13242(d)(1), Aug. 10, 1993, 107 Stat. 522;
Pub. L. 108–357, title VIII, § 853(d)(2)(F), Oct. 22,
2004, 118 Stat. 1613.)
Editorial Notes
AMENDMENTS
2004—Pub. L. 108–357 substituted ‘‘or 4081’’ for ‘‘, 4081,
or 4091’’ in introductory provisions.
1993—Pub. L. 103–66 substituted ‘‘4041(a)(1), 4081,’’ for
‘‘4081’’ in introductory provisions.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2004 AMENDMENT
Amendment by Pub. L. 108–357 applicable to aviation-
grade kerosene removed, entered, or sold after Dec. 31,
2004, see section 853(e) of Pub. L. 108–357, set out as a
note under section 4041 of this title.
EFFECTIVE DATE OF 1993 AMENDMENT
Amendment by Pub. L. 103–66 effective Jan. 1, 1994,
see
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 4105
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