Payments and deductions

Authority: 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. 6-2.5-7-5(020); filed Dec 1, 1982, 10:35 am: 6 IR 64)