§818.16.  Tax on unaccounted for losses; liability

A.  There is hereby levied an annual tax at the rates specified by this Subpart on taxable unaccounted for gasoline or diesel fuel losses at a terminal in this state.

(1)  "Taxable unaccounted for losses" means the number of net gallons of unaccounted for gasoline or diesel fuel losses that exceeds one-half of one percent of the number of net gallons removed from the terminal during the year by a bulk transfer or at the terminal rack.

(2)  "Unaccounted for losses" means the difference between:

(a)  The amount of gasoline or diesel fuel in inventory at the terminal at the beginning of the calendar year plus the amount of gasoline or diesel fuel received by the terminal during the year.

(b)  The amount of gasoline or diesel fuel in inventory at the terminal at the end of the calendar year plus the amount of gasoline or diesel fuel removed from the terminal during the year.

(3)  Accounted for losses that have been approved by the secretary shall not constitute "unaccounted for losses".  "Accounted for losses" may include losses of fuel on which tax has accrued and that is subsequently lost or destroyed by fire, lightning, flood, explosion, or other accidental or providential cause of which the secretary has been properly notified.

B.  The terminal operator whose gasoline or diesel fuel is unaccounted for is liable for the tax levied by this Section.  Fuel received by a terminal operator and not shown on an informational return filed by the terminal operator with the secretary as having been removed from the terminal is presumed to be unaccounted for fuel losses.  A terminal operator may rebut this presumption by establishing that gasoline or diesel fuel received at a terminal, but not shown on an informational return as having been removed from the terminal, is an accounted for loss or constitutes part of a transmix.

Acts 2005, No. 252, §1, eff. July 1, 2006.