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Revenue Ruling

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 Rev. Rul. 66-66

1966-1 C.B. 252

Full Text

Rev. Rul. 66-66 /1/

Revenue Ruling 65-317, C.B. 1965-2, 422, holds that a resident of the United States who purchases a foreign-made automobile under described conditions is the importer of the vehicle for purposes of imposition of the manufacturers excise tax under sections 4061(a)(2) and 4218(a) of the Internal Revenue Code of 1954. Held , the tax base applicable in computing the manufacturers excise tax liability on the use of an automobile by an importer under the circumstances described in  Revenue Ruling 65-317 is the total cost of acquisition of the vehicle at the time of taxable use. Such total cost includes, in addition to the purchase price of the vehicle, import duties, customs handling fees, ocean freight, agents' or sales commissions, and any other costs of acquiring the vehicle.

Revenue Ruling 65-317 is hereby amplified.

/1/ Also released as Technical Information Release 803, dated Feb. 28, 1966.