§ 5010. Credit for wine content and for flavors content
(a)
Allowance of credit
(1)
Wine content
On each proof gallon of the wine content of distilled spirits, there shall be allowed a credit against the tax imposed by section
5001 (or 7652) equal to the excess of—
(2)
Flavors content
On each proof gallon of the flavors content of distilled spirits, there shall be allowed a credit against the tax imposed by section
5001 (or 7652) equal to $13.50.
(b)
Time for determining and allowing credit
(1)
In general
The credit allowable by subsection (a)—
(A)
shall be determined at the same time the tax is determined under section
5006 (or 7652) on the distilled spirits containing the wine or flavors, and
(B)
shall be allowable at the time the tax imposed by section
5001 (or 7652) on such distilled spirits is payable as if the credit allowable by this section constituted a reduction in the rate of tax.
(c)
Definitions
For purposes of this section—
(2)
Flavors content
(A)
In general
Except as provided in subparagraph (B), the term “flavors content” means alcohol derived from flavors of a type for which drawback is allowable under section
5114.