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Part II begins on page 9847.

PartI

QUITTERA

NUMBER 248

Washington, Saturday, December 20, 1958

TITLE 26 INTERNAL REVENUE, 1954
Chapter I Internal Revenue Service, Department of the Treasury Subchapter D Miscellaneous Excise Taxes
T .D . 6342
P art 42 F acilities and S ervices E xcise T axes
This issue is divided into two parts bound together. Part II contains a notice of proposed rule making relating to the handling of milk in the Connecticut, Néw York-New Jersey, and Springfield, Mass., marketing areas, issued by the Agricultural Marketing Service, Department of Agriculture.

TAX ON USE OF SAFE DEPOSIT BOXES

On October 18, 19.58, notice of pro posed rule making regarding the regula tions under sections 4286 and 4287 of the Internal Revenue Code of 1954, as amended, relating to the facilities and services excise tax imposed on the use of safe deposit boxes was published in the F ederal R egister 23 F. R. 8067. No objection-to the rules proposed having been received during the 30-day period prescribed in the notice, the regulations as so published are hereby adopted and set forth below.

SUBPAftT G SAFE DEPOSIT BOXES

42.4286 Statutory provisions; im position of tax.
S e c . 4286. Im position o f tax.
There is hereby imposed a tax equivalent to 10 per cent of th e am ount coUected for th e use of any safe deposit box. Such tax shall be paid by the person paying fo r -th e use of the safe deposit box.

42.4286-1 Imposition of tax a In general. Section 4286 imposes a tax upon amounts collected for the use of safe deposit boxes. When during the seal
D ana L atham , term of the contract or agreement for the Commissioner of Internal Revenue.
use of a safe deposit box, such use is re Approved: December 17,1958.
linquished and a new contract or agree ment is made for the use of another N elson P . R o se , safe deposit box, additional tax is due Acting Secretary of the Treasury.
upon any further amount collected under P aragraph 1. Section 42.0-3 of the Fa the new contract or agreement.

cilities and Services Excise Tax Regula b Rate of tax. Tax is imposed at tions 26 CFR Part 42 is hereby the rate of . 10 percent of the amount amended by striking paragraph f and collected for the use of any safe deposit inserting in lieu thereof the following: box.
f Subpart G. The regulations in c Liability for tax. The tax is pay Subpart G of this part relate to amounts able by the person paying for the use of Paid on or after January 1, 1955, for the the safe deposit box. Every person re ceiving payments for the use of a safe use of safe deposit boxes.
deposit box is required under section 4291
P ar. 2. The regulations as so adopted to collect the tax from the person paying under Subchapter D of chapter 33 of for such use, and must return and pay the Internal Revenue Code of 1954, as over the tax so collected in accordance amended, relating to the tax on the use with the applicable provisions of the reg of safe deposit boxes, are as follows:
ulations contained in Subpart I of this part.
Sec Subpart G Safe Deposit Boxes 42.4287 Statutory provisions; defini 42.4286
Statutory provisions; im position tion of safe deposit box.
of tax.
42.4286-1
42.4287

2.4287-1

Im position of tax.
Statutory provisions; definition of safe deposit box.
Safe deposit box.

11ttnHOR1TY: 42.4286 to 42.4287-1, issued 7806 SCC 78 5, 68A S ta t 917; 26 U S C-

S e c . 4287. D efinition of safe deposit box.
For th e purposes of section 4286, any vault, safe, box, or other receptacle, of not more th an 40 cubic feet capacity, used for the safekeeping or storage of jewelry, plate, money, specie, bullion, stocks, bonds, secu-

Continued on p. 9809

CONTENTS
Agricultural Marketing Service Page Proposed rule making:
Milk in marketing areas:
Connecticut; New York-New Jersey; and Springfield, Mass. see Part II of this issue.
Puget Sound, Washington 9841
Pears, fresh Bartlett; plums, and Elberta peaches grown in California______ I _____ ,___ 9841
Rules and regulations:
General regulations; miscella neous amendments ______ 9831
Grapefruit grown in Arizona;
in -Imperial County, Calif.;
and in that part of Riverside County, Calif., situated south and eastof White Water, Calif.; limitation of ship 9833
ments---------------Lemons grown in California and Arizona; limitation of han dling------------------- _1________ 9836
Milk; in New York-New Jersey marketing area; cooperative paym ents____ ____________ 9832
Oranges, grapefruit, tangerines, and tangelos grown in Flor ida; limitation of shipments 4 documents__
9834-9836
Oranges, navel; grown in Ari zona and designated part of California; limitation of han dling 2 documents _____ 9832, 9833
Agricultural Research Service Rules and regulations:
Domestic quarantine notices;
territorial quarantine no tices; Federal plant pest reg ulations; establishment of part, transfer of subparts and amendments to chapter___ _ 9830
Foreign quarantine notices:
Sweetpotatoes and yams____ 9831
Yams from West Indies____ 9830
Agriculture Department See-Agricultural Marketing Serv ice; Agricultural Research Serv ice; Commodity Credit Corpora tion; Commodity Stabilization Service; Farmers Home Ad ministration.
9807