HB 1198 Fuels tax.
John A. Rollison III | all patrons    ...    notes
| add to my profiles

Fuels tax. Changes the procedures for collecting and remitting fuels taxes and rewrites the fuels tax laws. Motor fuels tax is imposed at the point fuel is removed from a terminal. Licensed suppliers holding an inventory position in motor fuel in a terminal are required to remit the tax to the Department of Motor Vehicles (DMV) by the fifth day of the second month following the removal. Currently, fuel tax payments are remitted to DMV by dealers and jobbers. Licensed distributors removing fuel from a terminal and certain importers shall not be required to pay the tax to the licensed supplier until the date the supplier is required to pay the tax to DMV. A licensed supplier acts as trustee for tax payments received. Out-of-state suppliers of imported fuel may act as trustee and remit taxes to DMV; otherwise, the tax must be remitted by a licensed importer. Refiners, terminal operators, bonded importers and suppliers must post a $2 million bond. Other businesses must post a bond for three times their average monthly liability, up to $300,000. Licensees may be required to file tax returns electronically. Suppliers and bonded importers are required to remit tax payments by electronic funds transfer. Suppliers are provided a collection allowance of 0.1 percent, up to $5,000 per month. Distributors and certain importers are provided an allowance of 0.5 percent, with no cap, in lieu of the current collection allowance. The measure includes special provisions relating to taxes on alternative fuels. A floorstocks tax is imposed on fuel held in storage on the effective date of the act. The felonies listed in the act are felonies under the existing fuels tax laws. Other violations of the fuel tax laws are punishable with civil penalties or as misdemeanors. The measure takes effect January 1, 1999.

Full text:
01/26/98  House: Presented & ordered printed 985403811  pdf

01/26/98  House: Presented & ordered printed 985403811
01/26/98  House: Referred to Committee on Finance
02/11/98  House: Passed by indefinitely in Finance (21-Y 1-N)