Section 45 IAC 12-7-4 - Deduction for evaporation, shrinkage, losses, and tax related expensesAuthority: IC 6-8.1-3-3
Affected: IC 6-6-1.1-704; IC 6-6-1.1-705
Sec. 4.
(a) Except as otherwise provided, a licensed distributor may claim a deduction equal to one and six-tenths percent (1.6%) of the number of invoiced or billed gallons of gasoline received in Indiana during the preceding calendar month, less all authorized deductions claimed under IC 6-6-1.1-704 and sections 1 through 3 of this rule.(b) The deduction provided by this section may be taken by a licensed distributor when timely reporting and remitting the tax accrued under IC 6-6-1.1.(c) This deduction shall not be allowed for losses covered under 45 IAC 12-3-4 and 45 IAC 12-3-5.Department of State Revenue; Reg 6-6-1.1-705 010; filed Sep 19, 1983, 2:23 pm: 6 IR 2325; filed Apr 30, 1986, 3:32 pm: 9 IR 2190Filed 12/12/2023, 2:27 p.m.: 20240110-IR-045230448FRA