Summary: S.2691 — 98th Congress (1983-1984)All Information (Except Text)

There is one summary for S.2691. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/18/1984)

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.