77TH CONG. , 2D SESS.-CH. 619-OCT. 21 , 1942 (b) FLOOR STOCKS TAx. -Section 3150 is amended by inserting at the end thereof the following new subsection: "(e) 1942 FLOOR STOCKS TAX.- "(1) TAX.-Upon all fermented malt liquors upon which the internal-revenue tax imposed by law has been paid, and which on the effective date of Title VI of the Revenue Act of 1942 are held by any person and intended for sale there shall be levied, assessed, collected, and paid a floor stocks tax at a rate of $1 per barrel of 31 gallons. "(2) RETURNS. -Under such regulations as the Commissioner with the approval of the Secretary shall prescribe, every person required by paragraph (1) to pay any floor stocks tax shall, on or before the end of the thirtieth day following the effective date of Title VI of the Revenue Act of 1942 make a return and shall, on or before the first day of the third month following such effective date, pay such tax. Payment of the tax shown to be due may be extended to a date not later than the first day of the tenth month following the effective date of Title VI of the Revenue Act of 1942, upon the filing of a bond for payment thereof in such form and amount and with such surety or sure- ties as the Commissioner, with the approval of the Secretary, may prescribe. "(3) LAWS APPLICABLE.-A ll provisions of law, including pen- alties, applicable in respect of the taxes imposed by subsection (a) shall, insofar as applicable and not inconsistent with this subsection, be applicable with respect to the floor stocks tax imposed by this subsection." SEC. 604. WINES. (a) RATE ON STILL WINEs. -Section 3030 (a) (1) (A) is amended by striking out "8 cents" and inserting in lieu thereof "10 cents"; by striking out "30 cents" and inserting in lieu thereof "40 cents"; and by striking out "65 cents" and inserting in lieu thereof "$1.00". (b) RATE ON SPARKLING WINES, LIQUEURS, CORDIALS, ETC. -Section 3030 (a) (2) is amended by striking out "7 cents" and inserting in lieu thereof "10 cents"; and by striking out "31/ cents" and inserting in lieu thereof "5 cents". (c) FLOOR STOCKS.- Subchapter F of Chapter 26 is amended by inserting at the end thereof the following new section: "SEC. 3193 . 1942 FLOOR STOCKS TAX ON WINES. "(a) FLOOR STOCKS TAx. -Upon all wines upon which the internal- revenue tax imposed by law has been paid, and which on the effective date of Title VI of the Revenue Act of 1942 are held and intended for sale or for use in the manufacture or production of an article intended for sale, there shall be levied, assessed, collected, and paid a floor stocks tax at rates equal to the increases in rates of tax made applicable to such articles by section 604 of the Revenue Act of 1942. "(b) RETURNs.-Under such regulations as the Commissioner with the approval of the Secretary shall prescribe, every person required by subsection (a) to pay any floor stocks tax shall, on or before the end of the thirtieth day following the effective date of Title VI of the Revenue Act of 1942 make a return and shall, on or before the first day of the third month following such effective date, pay such tax. Payment of the tax shown to be due may be extended to a date not later than the first day of the tenth month following the effective date of Title VI of the Revenue Act of 1942, upon the filing of a bond for 973 53 Stat. 365. 26 U. S. C. §3150; Supp. I, § 3150. Ante, p. 970. Ante, p. 970. 55Stat. 700. 26 U.S. C., 8upp. I, § 3030 (a) (1) (A). 55 Stat. 709. 26 U.S. C ., Supp. I, 3030 (a) (2). Ante, p. 218. 54 Stat. 525. 26 US... 1. 3190. 3191; 8upp. 1, 3190, 3192. Ant, p. 070. 56 STAT.]
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