Maine Revised Statutes Title 36 Sec. 3203-C – Inventory tax
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Terms Used In Maine Revised Statutes Title 36 Sec. 3203-C
- Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
On the date that any increase in the rate of tax imposed under this chapter takes effect, an inventory tax is imposed upon all distillates that are held in inventory by a supplier, wholesaler or retail dealer as of the end of the day prior to that date on which the tax imposed by section 3203, subsection 1-B has been paid. The inventory tax is computed by multiplying the number of gallons of tax-paid fuel held in inventory by the difference between the tax rate already paid and the new tax rate. Suppliers, wholesalers and retail dealers that hold such tax-paid inventory shall make payment of the inventory tax on or before the 15th day of the next calendar month, accompanied by a form prescribed and furnished by the State Tax Assessor. In the event of a decrease in the tax rate, the supplier, wholesaler or retail dealer is entitled to a refund or credit, which must be claimed on a form designed and furnished by the assessor. [PL 2009, c. 652, Pt. B, §8 (AMD); PL 2009, c. 652, Pt. B, §9 (AFF).]
SECTION HISTORY
PL 2001, c. 688, §7 (NEW). PL 2003, c. 390, §15 (AMD). PL 2009, c. 413, Pt. W, §3 (AMD). PL 2009, c. 413, Pt. W, §6 (AFF). PL 2009, c. 434, §51 (AMD). PL 2009, c. 434, §84 (AFF). PL 2009, c. 496, §20 (RPR). PL 2009, c. 652, Pt. B, §8 (AMD). PL 2009, c. 652, Pt. B, §9 (AFF).