Section 40-17-290 Discount authorized. - Alabama Statutes

Section 40-17-290

Discount authorized.

The Commissioner of the Department of Revenue is hereby authorized and directed to allow distributors licensed by the Department of Revenue under the provisions of Section 40-12-191 or Section 40-17-14, and who have made bond, as is required under Section 40-12-194 or Section 40-17-14, a discount in an amount equal to two percent of the first $10,000 of tax paid and one percent of all amounts of tax paid in excess of $10,000 under the provisions of Section 40-17-2 and Section 40-17-220, not to exceed in any case $500 on taxes paid in any one month, to partially defray the costs to licensed and bonded distributors of making reports to the Department of Revenue, losses incurred in the handling of motor fuel, and maintaining complete and accurate records for the reporting or paying of this tax. Whoever defaults in reporting or paying the taxes when they become due and payable to the state shall not be allowed a discount under this section.

(Acts 1995, No. 95-410, p. 881, §2.)