Implementation of Public Law 104-188, Section 1702, Amendments Related to Revenue Reconciliation Act of 1990 (96R-028T)

摘要

In the Rules and Regulations portion of this Federal Register, the Bureau of Alcohol, Tobacco and Firearms (ATF) is issuing temporary regulations to implement section 1702 the Small Business Job Protection Act of 1996. The new law changed the small producers' wine tax credit and wine bond provisions of the Internal Revenue Code of 1986. The wine regulations are amended to extend the application of the credit to ``transferees in bond'' (proprietors who store wine for a small producer, but who do not hold title to such wine) in certain circumstances, and to make conforming changes to the bond computation instructions, which were also affected by the law change. In this notice of proposed rulemaking, ATF invites comments on the temporary rule.