SEC. 2701. RETURNS. Every person liable for the tax imposed by section 2700 (a) shall make monthly returns under oath in duplicate to the collector for the district in which is located the principal place of business. Such re- turns shall contain such information and be made at such times and in such manner as the Commissioner, with the approval of the Secretary, may by regulations prescribe. SEC. 2702. PAYMENT OF TAX. (a) DATE OF PAYMENT.-T he tax shall, without assessment by the Commissioner or notice from the collector, be due and payable to the collector for the district in which is located the principal place of business, at the time fixed in section 2701 for filing the return. (b) DISCRETIONARY METHOD OF COLLECTION. For discretionary method of collection, see section 2708. SEC. 2703. ERRONEOUS PAYMENTS. (a) IN GENERAL. -In the case of any overpayment or overcollection of the tax imposed by section 2700, the person making such overpay- ment or overcollection may take credit therefor against taxes due upon any monthly return, and shall make refund of any excessive amount collected by him upon proper application by the person entitled thereto. (b) EXPORTs. For refund of tax on pistols and revolvers exported, see section 2705. SEC. 2704. COMPUTATION OF TAX IN SPECIAL CASES. (a) RETAIL SALES BY WHOLESALERS.- I f any manufacturer, pro- ducer, or importer of pistols or revolvers customarily sells such articles both at wholesale and at retail, the tax in the case of any articles sold by him at retail shall be computed on the price for which like articles are sold by him at wholesale. (b) COLORABLE SALES AND LEASES. - (1) To AFFILIATED CORPORATIONS. -If any corporation, which manufactures, produces, or imports, pistols or revolvers, sells or leases such articles to a corporation affiliated with it within the meaning of this paragraph, at less than the fair market price ob- tainable therefor, the tax thereon shall be computed on the basis of the price at which such articles are sold or leased by the corpora- tion with which it is affiliated. For the purpose of this paragraph two or more domestic corporations shall be deemed to be affiliated (1) if one corporation owns at least 95 per centum of the stock of the other or others, or (2) if at least 95 per centum of the stock of two or more corporations is owned by the same interests. As used in this paragraph, the term "stock' does not include nonvoting stock which is limited and preferred as to dividends. (2) To OTHERS. -If any person who manufactures, produces, or imports pistols or revolvers, sells or leases such articles whether through any agreement, arrangement, or understanding, or other- wise, at less than the fair market price obtainable therefor, either (1) in such manner as directly or indirectly to benefit such person or any person directly or indirectly interested in the business of such person, or (2) with intent to cause such benefit, the amount for which such articles are sold or leased shall be taken to be the amount which would have been received from the sale or lease of such articles if sold or leased at the fair market price. SEC. 2705. EXPORTATION. Under such rules and regulations as the Commissioner with the ap- proval of the Secretary may prescribe, the fax imposed under section 2700 (a) shall not apply in respect of articles sold or leased for export or for shipment to a possession of the United States and in due course so exported or shipped. Under such rules and regulations FIREARMS 289
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