26 USC 4042 - Tax on fuel used in commercial transportation on inland waterways

U.S Code last checked for updates: May 02, 2024

§ 4042.

Tax on fuel used in commercial transportation on inland waterways

(a)

In general

(b)

Amount of tax

(1)

In general

The rate of the tax imposed by subsection (a) is the sum of—

(A)

the Inland Waterways Trust Fund financing rate, and

(B)

the Leaking Underground Storage Tank Trust Fund financing rate.

(2)

Rates

For purposes of paragraph (1)—

(A)

The Inland Waterways Trust Fund financing rate is 29 cents per gallon.

(B)

The Leaking Underground Storage Tank Trust Fund financing rate is 0.1 cent per gallon.

(3)

Exception for fuel on which Leaking Underground Storage Tank Trust Fund financing rate separately imposed

(4)

Termination of Leaking Underground Storage Tank Trust Fund financing rate

(c)

Exemptions

(1)

Deep-draft ocean-going vessels

(2)

Passenger vessels

(3)

Use by State or local government in transporting property in a state or local business

(4)

Use in moving lash and seabee ocean-going barges

(d)

Definitions

For purposes of this section—

(1)

Commercial waterway transportation

The term “commercial waterway transportation” means any use of a vessel on any inland or intracoastal waterway of the United States—

(A)

in the business of transporting property for compensation or hire, or

(B)

in transporting property in the business of the owner, lessee, or operator of the vessel (other than fish or other aquatic animal life caught on the voyage).

(2)

Inland or intracoastal waterway of the United States

(3)

Person

(e)

Date for filing return

(Added Pub. L. 95–502, title II, § 202(a), Oct. 21, 1978, 92 Stat. 1696; amended Pub. L. 99–499, title V, § 521(a)(3), Oct. 17, 1986, 100 Stat. 1777; Pub. L. 99–662, title XIV, § 1404(a), Nov. 17, 1986, 100 Stat. 4270; Pub. L. 100–647, title II, § 2002(a)(2), Nov. 10, 1988, 102 Stat. 3597; Pub. L. 103–66, title XIII, § 13241(d), Aug. 10, 1993, 107 Stat. 510; Pub. L. 108–357, title II, § 241(b), Oct. 22, 2004, 118 Stat. 1438; Pub. L. 110–172, § 6(d)(1)(B), Dec. 29, 2007, 121 Stat. 2480; Pub. L. 113–295, div. B, title II, § 205(a), Dec. 19, 2014, 128 Stat. 4065; Pub. L. 115–141, div. U, title IV, § 401(b)(40), (41), Mar. 23, 2018, 132 Stat. 1204.)

cite as: 26 USC 4042