26 U.S.C. § 4105

Two-party exchanges

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(a) In general

In a two-party exchange, the delivering person shall not be liable for the tax imposed under section 4081(a)(1)(A)(ii).

(b) Two-party exchangeThe term “two-party exchange” means a transaction, other than a sale, in which taxable fuel is transferred from a delivering person registered under section 4101 as a taxable fuel registrant to a receiving person who is so registered where all of the following occur:(1) The transaction includes a transfer from the delivering person, who holds the inventory position for taxable fuel in the terminal as reflected in the records of the terminal operator.(2) The exchange transaction occurs before or contemporaneous with completion of removal across the rack from the terminal by the receiving person.(3) The terminal operator in its books and records treats the receiving person as the person that removes the product across the terminal rack for purposes of reporting the transaction to the Secretary.(4) The transaction is the subject of a written contract.(Added Pub. L. 108–357, title VIII, § 866(a), Oct. 22, 2004, 118 Stat. 1621.)Editorial NotesPrior Provisions

Prior sections 4111 to 4113, 4121, and 4131 of this title constituted a former subchapter B of this chapter, see Prior Provisions note set out preceding section 4121 of this title.

Statutory Notes and Related SubsidiariesEffective Date

Pub. L. 108–357, title VIII, § 866(c), Oct. 22, 2004, 118 Stat. 1622, provided that: “The amendment made by this section [enacting this section] shall take effect on the date of the enactment of this Act [Oct. 22, 2004].”

Notes of Decisions

Cited in 1 case, 1933–1933 · leading case: Broadway Blending Corp. v. Sugden, 2 F. Supp. 837 (W.D.N.Y. 1933).

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Broadway Blending Corp. v. Sugden, 2 F. Supp. 837 (W.D.N.Y. 1933). “Another provision of the Revenue Act of 1932 which has application to these cases is section 1105 (26 USCA § 4105), which reads as follows: “(a) If the Commissioner finds that a person liable for tax (other than income tax) under any provision of the internal-revenue laws…”

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