Sec. 705. (a) If a monthly report is filed and the amount due is remitted at or before the time required by this chapter, a distributor is entitled to a deduction equal to one and six-tenths percent (1.6%) of the remainder of:

(1) the number of invoiced gallons of gasoline he received in Indiana during the preceding calendar month; minus

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Terms Used In Indiana Code 6-6-1.1-705

  • Administrator: means the administrative head of the department of state revenue or the administrator's designee. See Indiana Code 6-6-1.1-103
  • Distributor: means a person who first receives gasoline in Indiana. See Indiana Code 6-6-1.1-103
  • Gasoline: means :

    Indiana Code 6-6-1.1-103

  • Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(2) the deductions claimed by the distributor under sections 701 through 704 of this chapter.

This deduction is a flat allowance to cover evaporation, shrinkage, losses (except losses covered by section 301(5) of this chapter), and the distributor’s expenses in collecting and timely remitting the tax imposed by this chapter.

     (b) If a monthly report is filed or the amount due is remitted later than the time required under this chapter, the distributor shall pay to the administrator all of the gasoline tax the distributor received from the sale of gasoline covered by the late report, reduced by payments made under IC 6-8.1-8-1.

As added by Acts 1979, P.L.79, SEC.1. Amended by Acts 1980, P.L.51, SEC.37; P.L.77-1985, SEC.3; P.L.59-1985, SEC.12; P.L.92-1987, SEC.6.

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