An Act To amend the Internal Revenue Code of 1954 to exempt certain aircraft museums from Federal fuel taxes and the Federal tax on the use of civil aircraft, and for other purposes
United States Internal Revenue Code of 1954 Search this
Physical description:
Number of pages: 2; Page Numbers: 2487-88
Type:
Public Law
Date:
1978
10/17/1976
Category:
Smithsonian Legal Documents
Legal document information:
90 Stat. 2487
Title 26, Excise Taxes
Public Law
Citation information:
Statutes at Large
Summary:
Section 4041 of the Internal Revenue Code of 1954 (relating to tax on special fuels) is amended by redesignating subsection (h) as subsection (I) and by inserting after subsection (g) the following new subsection: Exception for use by certain aircraft museums. Section 6427 of the Internal Revenue Code of 1954 (relating to fuels not used for taxable purposes) is amended by inserting after subsection ♭ the following new subsection: Use by certain aircraft museums. Subsection (a) of section 4492 (defining taxable civil aircraft for purposes of the tax on the use of civil aircraft) is amended by adding at the end the following new sentence: "Such term does not include any aircraft owned by an aircraft museum (as defined in section 4041 (h) (2) and used exclusively for purposes set forth in section 4041 (h) (2) (C)."
