Implementation of Public Law 103-465, Section 712, Time for Payment and Deposits of Certain Excise Taxes (No. 277)

SUMMARY: In the Rules and Regulations portion of this Federal Register,

the Bureau of Alcohol, Tobacco and Firearms (ATF) is issuing temporary

regulations regarding the implementation of section 712 of Public Law

103-465, the ``Uruguay Round Agreements Act.'' The new law changed

payment and deposit requirements for certain excise taxes. These

regulations implement the law by incorporating the accelerated payment

period for taxes or deposits due on distilled spirits, wine, beer,

tobacco products and cigarette papers and tubes and firearms and

ammunition for the period September 16-September 26 (or September 25,

for non-electronic fund transfer (EFT) taxpayers). Payment of taxes for

this period is due on September 29 (or September 28, for non EFT

taxpayers). The regulations also amend regulations in 27 CFR Part 53

relating to the requirements for making deposits of firearms and

ammunition excise taxes by simplifying existing deposit rules in order

to maintain consistency with other manufacturers excise taxes

administered by the Internal Revenue Service (IRS). Finally, the

regulations add provisions relating to records and variances and makes

other technical amendments to regulations in 27 CFR Part 53.

DATES: Written comments must be received on or before September

26,1995.

ADDRESSES: Send written comments to: Chief, Regulations Branch, Bureau

of Alcohol, Tobacco and Firearms, P.O. Box 50221, Washington, DC 20091-

0221.

FOR FURTHER INFORMATION CONTACT: Tamara Light, Regulations Branch, 650

Massachusetts Avenue, NW, Washington, DC 20226 (202) 927-8210.

SUPPLEMENTARY INFORMATION:

Executive Order 12866

It has been determined that this proposed rule is not a significant

regulatory action as defined by Executive Order 12866, because the

economic effects flow directly from the underlying statue and not from

the proposed regulations. Therefore, a regulatory assessment is not

required.

Regulatory Flexibility Act

It is hereby certified that these proposed regulations will not

have a significant economic impact on a substantial number of small

entities. Accordingly, a regulatory flexibility analysis is not

required. The revenue effects of this rulemaking on small businesses

flow directly from the underlying statute. Likewise, any secondary or

incidental effects, and any reporting, recordkeeping, or other

compliance burdens flow directly from the statute. Pursuant to section

7805(f) of the Internal Revenue Code, this proposed regulation has been

submitted to the Chief Counsel for Advocacy of the Small Business

Administration for comment on its impact on small business.

Paperwork Reduction Act

The collections of information contained in this notice have been

submitted to the Office of Management and Budget (OMB) for review in

accordance with the Paperwork Reduction Act of 1980 (44 U.S.C.

3504(h)). Comments on the collections of information should be sent to

the Office of Management and Budget, Paperwork Reduction Project 1512-

0467, 1512-0497 or 1512-0509, Attention: Desk officer for the

Department of the Treasury, Bureau of Alcohol, Tobacco and Firearms,

Office of Information and Regulatory Affairs, Washington, DC 20503,

with copies to the Chief, Information Programs Branch, Room 3450,

Bureau of Alcohol, Tobacco and Firearms, 650 Massachusetts Avenue, NW.,

Washington, DC 20226.

The collections of information in this proposed regulation are

under control numbers 1512-0467, 1512-0497 and 1512-0509. This

information is required by ATF to ensure compliance with the provisions

of Public Law 103-465. The likely respondents and recordkeepers are

individuals and businesses. The estimated average annual burden

associated with 1512-0467 is 0.7 hours per respondent or recordkeeper,

the estimated average annual burden associated with 1512-0497 is 0.25

hours per respondent or recordkeeper, and the estimated average annual

burden associated with 1512-0509 is 0.21 hours per respondent or

recordkeeper.

Public Participation

ATF requests comments on the temporary regulations from all

interested persons. Comments received on or before the closing date

will be carefully considered. Comments received after that date will be

given the same consideration if it is practicable to do so, but

assurance of consideration cannot be given except as to comments

received on or before the closing date. ATF will not recognize any

material in comments as confidential. Comments may be disclosed to the

public. Any material which the commenter considers to be confidential

or inappropriate for disclosure to the public should not be included in

the comment. The name of the person submitting the comment is not

exempt from disclosure. During the comment period, any person may

request an opportunity to present oral testimony at a public hearing.

However, the Director reserves the right, in light of all

circumstances, to determine if a public hearing is necessary.

The temporary regulations in this issue of the Federal Register

amend the regulations in 27 CFR Parts 19, 24, 25, 53, 70, 250, 270, 275

and 285. For the text of the temporary regulations see T.D. ATF-365

published in the Rules and Regulations section of this issue of the

Federal Register.

Drafting Information

The principal author of this document is Tamara Light, Regulations

Branch, Bureau of Alcohol, Tobacco and Firearms.

Signed: June 6, 1995.

Daniel R. Black,

Acting Director.

Approved: June 19, 1995.

John P. Simpson,

Deputy Assistant Secretary (Regulatory, Tariff and Trade Enforcement).

[FR Doc. 95-15549 Filed 6-26-95; 10:47 am]

BILLING CODE 4810-31-U