Texas Alcoholic Beverage Code 201.74 – Operation of Tax Stamp Program
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(a) The commission is responsible for the custody and sale of tax stamps and for the proceeds of the sales.
(b) The commission may sell tax stamps only to a person designated by the commission.
Terms Used In Texas Alcoholic Beverage Code 201.74
- Commission: means the Texas Alcoholic Beverage Commission. See Texas Alcoholic Beverage Code 1.04
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Person: means a natural person or association of natural persons, trustee, receiver, partnership, corporation, organization, or the manager, agent, servant, or employee of any of them. See Texas Alcoholic Beverage Code 1.04
(c) The commission may designate any state or national bank in this state as its agent to deliver and collect for any tax stamps and to remit the sale proceeds to it.
(d) Invoices for tax stamps shall be issued by the commission in duplicate and numbered consecutively. The original of the invoice shall be forwarded to the purchaser or to the person in whose care it may be sent for the benefit of a qualified purchaser. The second copy shall be kept by the commission.
(e) The commission shall keep a permanent record of all tax stamps received and sold. This record shall provide a perpetual inventory of all tax stamps and their disposition.