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United States · Bill · S

S. 2691 (98th)

A bill to amend the Internal Revenue Code of 1954 to allow a deduction for additions to reserves for refunds of beverage container deposits.

openUnited States· United States Congress· EN

Introduced

18 May 1984

Last action

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Status

Committee on Finance requested executive comment from OMB, Treasury Department.

Sponsors

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Subjects

Discovery layer

Source updated

3 January 2025

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Summary

Amends the Internal Revenue Code to allow a wholesale distributor of beverages to deduct a reasonable addition to a reserve fund for refunds of beverage container deposits. Directs the Secretary of the Treasury to promulgate regulations which will limit the amount of the deduction allowable for the first year the taxpayer elects such procedure. Directs the Secretary to prescribe regulations as to the time and manner a taxpayer may make such election. Requires the Secretary to consent to a revocation of this election.

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Documents

1 official file

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Sources

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