Indiana § 6-6-2.5-29 Inventory tax; exclusions; amount

Indiana Statutes

§ 6-6-2.5-29 — Inventory tax; exclusions; amount

Indiana § 6-6-2.5-29

Art. 6MOTOR FUEL AND VEHICLE EXCISE TAXES

Ch. 2.5Special Fuel Tax

This text of Indiana § 6-6-2.5-29 (Inventory tax; exclusions; amount) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-6-2.5-29 (2026).

Text

(a)Persons having title to special fuel in storage and held for sale on the effective date of an increase in the license tax rate imposed under section 28 of this chapter are subject to an inventory tax based on the gallons in storage as of the close of the business day preceding the effective date of the increased license tax rate.

(b)Persons subject to the tax imposed under this section shall:

(1)take an inventory to determine the gallons in storage for purposes of determining the inventory tax;

(2)report the gallons listed in subdivision (1) on forms provided by the commissioner; and

(3)pay the tax due not more than thirty (30) days after the prescribed inventory date. In determining the amount of special fuel tax due under this section, the person may exclude the amount of special

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(a) Persons having title to special fuel in
storage and held for sale on the effective date of an increase in the
license tax rate imposed under section 28 of this chapter are subject to
an inventory tax based on the gallons in storage as of the close of the
business day preceding the effective date of the increased license tax
rate.
(b) Persons subject to the tax imposed under this section shall:
(1) take an inventory to determine the gallons in storage for
purposes of determining the inventory tax;
(2) report the gallons listed in subdivision (1) on forms provided
by the commissioner; and
(3) pay the tax due not more than thirty (30) days after the
prescribed inventory date.
In determining the amount of special fuel tax due under this section,
the person may exclude the amount of special fuel that will not be
pumped out of the storage tank because the special fuel is below the
mouth of the draw pipe. For this purpose, the person may deduct two
hundred (200) gallons for a storage tank with a capacity of less than ten
thousand (10,000) gallons, and four hundred (400) gallons for a storage
tank with a capacity that exceeds ten thousand (10,000) gallons.
(c) The amount of the inventory tax is equal to the inventory tax rate
times the gallons in storage as determined under subsection (b). The
inventory tax rate is equal to the difference of the increased license tax
rate minus the previous license tax rate.
(d) The inventory tax shall be considered a listed tax for the
purposes of IC 6-8.1.