Rev. Rul. 73-292

Section 41.4481-1(c)(3) of the Highway Motor Vehicle Use Tax Regulations provides that since the highway use tax imposed by section 4481(a) of the Internal Revenue Code of 1954 is measured from the first day of the month in which the first taxable use of a highway motor vehicle is made, the fact that the vehicle is later "sold, destroyed, junked, or otherwise disposed of" in the taxable period does not affect the computation of the tax on the use of such vehicle for such taxable period, or give rise to a right to refund or credit.

Held, if a vehicle on which the tax imposed by section 4481(a) of the Code has been paid is stolen during the taxable period, such vehicle has been "otherwise disposed of" within the meaning of section 41.4481-1(c)(3) of the regulations, and therefore the theft does not affect the computation of tax, or give rise to a right to credit or refund.