Section 40-17-291 Floor-stocks tax on motor fuel. - Alabama Statutes

Section 40-17-291

Floor-stocks tax on motor fuel.

(a) There is hereby imposed a floor-stocks tax on motor fuel owned by any person on October 1, 1995, if:

(1) No tax was imposed on the motor fuel under Sections 40-17-2 and 40-17-220 as they existed on September 30, 1995; and

(2) Tax would have been imposed on the motor fuel by Act 95-410 of the 1995 Regular Session had it been in effect for the periods prior to its effective date, October 1, 1995.

(b) The rate of the tax imposed by this section shall be the amount of tax imposed under Sections 40-17-2 and 40-17-220 on September 30, 1995.

(c) Any person owning motor fuel on October 1, 1995, to which the tax imposed by this section applies shall be liable for the tax. The tax imposed by this section shall be paid on or before December 31, 1995, and shall be paid in the manner prescribed by the department.

(Acts 1995, No. 95-410, p. 881, §3.)