Ind. Admin. Code tit. 45, § 2.2-7-7 - Payments and Deductions
45 IAC 2.2-7-7 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)](/navigator/019edbd9-b779-74eb-bf32-e3286165ffd3/title_45.article_2_2.rule_7.section_7) 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)