Deduction for evaporation, shrinkage, losses, and tax related
expenses
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
(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.
Last modified: May 28, 2006