Section 45 IAC 2.2-7-7 - Payments and deductionsAuthority: IC 6-8.1-3-3
Affected: IC 6-2.5-6-11
Sec. 7.
(a) The retail merchant's tax liability for the sale of gasoline from a metered pump shall be computed by taking one twenty-sixth (1/26) of the gross receipts: (1) Including state gross retail tax, but;(2) Excluding Indiana and federal gasoline taxes.(b) The retail merchant is required to remit the amount arrived at by using the formula in clause (1) [subsection (a) of this section] regardless of the amount of state gross retail tax which was actually collected.(c) The retail merchant is entitled to deduct the amounts prescribed in IC 6-2.5-6-11 as the collection allowance and IC 6-2.5-6-11 the energy assistance credit.Department of State Revenue; Ch. 7, Reg. 6-2.5-7-5020; filed Dec 1, 1982, 10:35 am: 6 IR 64