FERMENTED MALT LIQUOR.

SEC. 453. FERMENTED MALT LIQUOR. (a) Increase in Tax on Fermented Malt Liquors From $8 to $9 per Barrel.—Section 3150 (a) (tax on fermented malt liquors) is hereby amended (1) by striking out “$7” and inserting in lieu thereof “$9”, and (2) by striking out the second sentence and inserting in lieu thereof the following: “On and after April 1, 1954, the tax imposed by the preceding sentence shall be at the rate of $8 in lieu of $9.”. (b) Floor Stocks Tax.—Section 3150 is hereby amended by inserting at the end thereof the following new subsection: “(g) 1951 Floor Stocks Tax.— “(1) Tax.—Upon all fermented malt liquors upon which the internal revenue tax imposed by law has been paid, and which 65 Stat. 527 on the effective date of section 453 (a) of the Revenue Act of 1951 are held by any person and intended for sale there shall be levied, assessed, collected, and paid a floor stocks tax at a rate of $1 per barrel of 31 gallons. “(2) Returns.—Under such regulations as the Secretary shall prescribe, every person required by paragraph (1) to pay any floor stocks tax shall, on or before the end of the thirtieth day following the effective date of section 453 (a) of the Revenue Act of 1951 make a return and shall, on or before the first day of the third month following such effective date, pay such tax. payment of the tax shown to be due may be extended to a date not later than the first day of the tenth month following the effective date of section 453 (a) of the Revenue Act of 1951, upon the filing of a bond for payment thereof in such form and amount and with such surety or sureties as the Secretary may prescribe. “(3) Laws Applicable.—All provisions of law, including penalties, applicable in respect of the taxes imposed by subsection (a) shall, insofar as applicable and not inconsistent with this subsection, be applicable with respect to the floor stocks tax imposed by this subsection.”