45 IAC 12-7-4 Deduction for evaporation, shrinkage, losses, and tax related expenses

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.