Prepayment credit; claim for refund; transfers from general fund
Sec. 6. (a) If the deduction under section 5(c) of this chapter
exceeds the amount of gross retail tax required to be remitted under
section 5(b) of this chapter, the retail merchant is entitled to a credit.
The credit shall be used as follows:
(1) First, the credit shall be applied against gross retail and use
tax liability of the retail merchant that is required to be remitted
under IC 6-2.5-6.
(2) Second, any amount remaining shall be applied against the
gasoline tax liability of the retail merchant, as determined under
IC 6-6-1.1, excluding any liability for gasoline delivered to a
taxable marine facility.
A retail merchant may file a claim for a refund instead of taking a
credit or for a refund of any excess tax payment remaining after the
credits allowed by this section. In addition, a retail merchant may file
a claim for a refund under section 12 of this chapter.
(b) A retail merchant that is entitled to a refund under this section
must file a claim for the refund on the form approved by the
department and must include any supporting documentation
reasonably required by the department. If a retail merchant files a
completed refund claim form that includes all supporting
documentation, the excess tax payment that is not refunded within
ninety (90) days accrues interest as provided in IC 6-8.1-9-2.
(c) Before the fifth day of each month, the department shall
determine and notify the treasurer of state of the amount of credits
applied during the preceding month against the gasoline tax under
this section. The treasurer of state shall transfer from the general
fund:
(1) to the highway, road, and street fund, twenty-five percent
(25%) of the amount set forth in the department's notice; and
(2) to the motor fuel tax fund of the motor vehicle highway
account, seventy-five percent (75%) of the amount set forth in
the department's notice.
As added by P.L.94-1987, SEC.3.
Last modified: May 28, 2006