45 IAC 12-3-4 Exemption: gasoline lost or destroyed

Sec. 4. (a) As a general rule, gasoline received by a licensed distributor and thereafter lost or destroyed except by evaporation, shrinkage, or unknown cause, while the distributor is still the owner, is exempt. (b) Gasoline received by a licensed distributor before delivery, and thereafter lost or destroyed except by evaporation, shrinkage, or an unknown cause, is exempt provided that a subsequent person has not incurred gasoline tax liability for the product. (c) Gasoline is considered lost or destroyed if it is a result of theft, leakage, fire, an accident, an explosion, lightning, a flood, a storm, an act of war, a public enemy, or other like cause.