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

Authority: IC 6-8.1-3-3

Affected: IC 6-6-1.1-301

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.

(Department of State Revenue; Reg 6-6-1.1-301(5)(010); filed Sep 19, 1983, 2:23 p.m.: 6 IR 2319; filed Dec 12, 2023, 2:27 p.m.: 20240110-IR-045230448FRA)