142.812. Excise tax on motor fuel losses unaccounted for--liability for excise tax. - Missouri Statutes

Excise tax on motor fuel losses unaccounted for--liability for excisetax.

142.812. 1. An excise tax at the motor fuel rate is imposed annuallyon unaccounted for motor fuel losses at a terminal that exceed one half ofone percent of the number of net gallons removed from the terminal duringthe calendar year by a system transfer or at a rack. To determine if thistax applies, the terminal operator must determine the terminal loss as thedifference between the following:

(1) The amount of motor fuel in inventory at the terminal at thebeginning of the year plus the amount of motor fuel received at theterminal during the year; and

(2) The amount of motor fuel in inventory at the terminal at the endof the year plus the amount of motor fuel removed from the terminal duringthe year.

2. The terminal operator whose motor fuel is unaccounted for isliable for the tax imposed by this section. Motor fuel received by aterminal operator and not shown on a report as having been removed from theterminal is presumed to be unaccounted for. A terminal operator mayprovide documentation to substantiate unaccountable losses.

(L. 1998 S.B. 619)

Effective 1-1-99