
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC5721]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
      Subtitle E--Alcohol, Tobacco, and Certain Other Excise Taxes
 
       CHAPTER 52--TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES
 
   Subchapter C--Operations by Manufacturers and Importers of Tobacco 
Products and Cigarette Papers and Tubes and Export Warehouse Proprietors
 
Sec. 5721. Inventories

    Every manufacturer or importer of tobacco products or cigarette 
papers and tubes, and every export warehouse proprietor, shall make a 
true and accurate inventory at the time of commencing business, at the 
time of concluding business, and at such other times, in such manner and 
form, and to include such items, as the Secretary shall by regulation 
prescribe. Such inventories shall be subject to verification by any 
internal revenue officer.

(Aug. 16, 1954, ch. 736, 68A Stat. 713; Pub. L. 85-859, title II, 
Sec. 202, Sept. 2, 1958, 72 Stat. 1422; Pub. L. 94-455, title XIX, 
Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 105-33, title 
IX, Sec. 9302(h)(2)(A), Aug. 5, 1997, 111 Stat. 674.)


                               Amendments

    1997--Pub. L. 105-33 inserted ``or importer'' after 
``manufacturer''.
    1976--Pub. L. 94-455 struck out ``or his delegate'' after 
``Secretary''.
    1958--Pub. L. 85-859 substituted ``manufacturer of tobacco products 
or cigarette papers and tubes'' for ``manufacturer of articles'' and 
``internal revenue officer'' for ``revenue officer'', and inserted 
provisions to include export warehouse proprietors.


                    Effective Date of 1997 Amendment

    Amendment by Pub. L. 105-33 applicable to articles removed, as 
defined in section 5702(j) of this title, after Dec. 31, 1999, with 
transition rule, see section 9302(i) of Pub. L. 105-33, set out as a 
note under section 5701 of this title.


                    Effective Date of 1958 Amendment

    Amendment by Pub. L. 85-859 effective Sept. 3, 1958, see section 
210(a)(1) of Pub. L. 85-859, set out as an Effective Date note under 
section 5001 of this title.
