CFR > Title 27 - Alcohol, Tobacco Products and Firearms > CHAPTER I—ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY > SUBCHAPTER B—TOBACCO (parts 40 to 46) > PART 40—MANUFACTURE OF TOBACCO PRODUCTS, CIGARETTE PAPERS AND TUBES, AND PROCESSED TOBACCO > SUBPART K—Manufacture of Cigarette Papers and Tubes (§40.351 to §40.478) > 40.434—Closing.

40.434—Closing.

A closing inventory shall be made by the manufacturer of cigarette papers and tubes when a change in proprietorship occurs, or when the manufacturer changes location of the factory to another region, or concludes business. Where a change in proprietorship occurs, the closing inventory shall be made as of the day preceding the date of the opening inventory of the successor.

Code of Federal Regulations

(72 Stat. 1422; 26 U.S.C. 5721 )