27 CFR 40.512 - Change in ownership or control.

§ 40.512 Change in ownership or control.

(a)Fiduciary successor. If an administrator, executor, receiver, trustee, assignee, or other fiduciary is to take over the business of a manufacturer of processed tobacco as a continuing operation, such fiduciary shall, before commencing operations, make application for a permit in accordance with this subpart, furnish certified copies, in duplicate, of the order of the court, or other pertinent documents, showing his appointment and qualification as such fiduciary, and make a commencing inventory in accordance with § 40.523. However, where a fiduciary intends only to liquidate the business, qualification as a manufacturer of processed tobacco will not be required if such fiduciary promptly files with the appropriate TTB officer a written statement to that effect, in duplicate.

(b)Transfer of ownership. If a transfer in ownership of the business of a manufacturer of processed tobacco (including a change of any member of a partnership or association) is to be made, such manufacturer shall give notice, in writing, to the appropriate TTB officer, naming the proposed successor and the desired effective date of the transfer. The proposed successor shall, before commencing operations, qualify as a manufacturer of processed tobacco in accordance with this subpart. The manufacturer shall give notice of the transfer, and the proposed successor shall make application for permit, in ample time for examination and approval thereof before the desired date of such change. The predecessor shall make a concluding inventory and concluding report, in accordance with §§ 40.523 and 40.522, respectively, and surrender the permit with such inventory and report. The successor shall make a commencing inventory and first report, in accordance with §§ 40.523 and 40.522, respectively.

(c)Change in officers, directors, or stockholders of a corporation. Upon election or appointment (excluding successive reelection or reappointment) of any officer or director of a corporation operating the business of a manufacturer of processed tobacco, or upon any occurrence that results in a person acquiring ownership or control of more than ten percent in aggregate of the outstanding stock of such corporation, the manufacturer shall, within 30 days of such action, so notify the appropriate TTB officer in writing, giving the identity of such person. When there is any change in the authority furnished under § 40.494 for officers to act in behalf of the corporation, the manufacturer shall immediately so notify the appropriate TTB officer in writing.

(d)Change in control of corporation. When the issuance, sale, or transfer of the stock of a corporation operating as a manufacturer of processed tobacco results in a change in the identity of the principal stockholders exercising actual or legal control of the operations of the corporation, the corporate manufacturer shall, within 30 days after the change occurs, make application on TTB F 5200.3 for a new permit. Otherwise, the present permit shall be automatically terminated at the expiration of such 30-day period, and the manufacturer shall dispose of all processed tobacco on hand, make a concluding inventory and concluding report, in accordance with the provisions of §§ 40.523 and 40.522, respectively, and surrender the permit with such inventory and report. If the application for a new permit is timely made, the present permit shall continue in effect pending final action with respect to such application.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

§ 5701 - Rate of tax

§ 5703 - Liability for tax and method of payment

§ 5704 - Exemption from tax

§ 5705 - Credit, refund, or allowance of tax

§ 5711 - Bond

§ 5712 - Application for permit

§ 5713 - Permit

§ 5721 - Inventories

§ 5722 - Reports

§ 5723 - Packages, marks, labels, and notices

§ 5731 - Imposition and rate of tax

§ 5732 - Payment of tax

§ 5733 - Provisions relating to liability for occupational taxes

§ 5734 - Application of State laws

§ 5741 - Records to be maintained

§ 5751 - Purchase, receipt, possession, or sale of tobacco products and cigarette papers and tubes, after removal

§ 5753 - Disposal of forfeited, condemned, and abandoned tobacco products, and cigarette papers and tubes

§ 5761 - Civil penalties

§ 5762 - Criminal penalties

§ 5763 - Forfeitures

§ 6061 - Signing of returns and other documents

§ 6065 - Verification of returns

§ 6109 - Identifying numbers

§ 6151 - Time and place for paying tax shown on returns

§ 6301 - Collection authority

§ 6302 - Mode or time of collection

§ 6311 - Payment of tax by commercially acceptable means

§ 6313 - Fractional parts of a cent

§ 6402 - Authority to make credits or refunds

§ 6404 - Abatements

§ 6423 - Conditions to allowance in the case of alcohol and tobacco taxes

§ 6676 - Erroneous claim for refund or credit

§ 6806 - Occupational tax stamps

§ 7011 - Registration—persons paying a special tax

§ 7212 - Attempts to interfere with administration of internal revenue laws

§ 7325 - Personal property valued at $100,000 or less

§ 7342 - Penalty for refusal to permit entry or examination

§ 7502 - Timely mailing treated as timely filing and paying

§ 7503 - Time for performance of acts where last day falls on Saturday, Sunday, or legal holiday

§ 7606 - Entry of premises for examination of taxable objects

§ 7805 - Rules and regulations

U.S. Code: Title 31 - MONEY AND FINANCE

Title 27 published on 19-May-2018 03:56

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 27 CFR Part 40 after this date.

  • 2016-06-21; vol. 81 # 119 - Tuesday, June 21, 2016
    1. 81 FR 40183 - Importer Permit Requirements for Tobacco Products and Processed Tobacco, and Other Requirements for Tobacco Products, Processed Tobacco and Cigarette Papers and Tubes
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Alcohol and Tobacco Tax and Trade Bureau
      Final rule; Treasury decision.
      Effective July 21, 2016, the temporary regulations published in the Federal Register as T.D. TTB-115 at 78 FR 38555 on June 27, 2013, are adopted as final, and those temporary regulations will no longer have a sunset date of August 26, 2016.
      27 CFR Parts 40, 41, and 44