Sec. 26. (a) The gasoline use tax collected under this chapter is considered equivalent to the state gross retail tax that would be collected by a retail merchant in a retail sale and replaces the obligation of the retail merchant to collect the state gross retail tax on the sale of gasoline.

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Terms Used In Indiana Code 6-2.5-3.5-26

  • gasoline: has the meaning set forth in Indiana Code 6-2.5-3.5-4
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
     (b) Except for the exemption under IC 6-2.5-5-8 for property acquired for resale in the ordinary course of business, the exemptions set forth in IC 6-2.5-5 apply to the gasoline use tax imposed by this chapter.

As added by P.L.227-2013, SEC.1. Amended by P.L.146-2020, SEC.11.

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