142.848. Distributor's election on timing of remittance. - Missouri Statutes

Distributor's election on timing of remittance.

142.848. There shall be an election available to those eligibledistributors who remove fuel from a terminal or refinery operated by asupplier or permissive supplier who remit the tax through the supplier,acting as a trustee, as to the timing of the remittance. At the electionof an eligible purchaser, which notice shall be evidenced by a writtenstatement from the director as to the purchaser eligibility status asdetermined pursuant to section 142.851, the supplier shall not require apayment of motor fuel tax on transport truckloads from the purchaser soonerthan two business days prior to the date on which the tax is required to beremitted by the supplier pursuant to section 142.842. This election shallbe subject to a condition that the remittances by the eligible purchaser ofall amounts of tax due the supplier shall be paid on the basis ofninety-seven percent for gasoline, gasoline blends and gasoline blendstocks and ninety-eight percent for diesel fuel, diesel blends and dieselblend stocks and which shall be paid by electronic funds transfer on orbefore the second preceding day prior to the date of the remittance by thesupplier to the director. Should the tax being remitted through thesupplier be a destination state motor fuel tax on exports pursuant tosection 142.815, the timing and basis of this section are to be substitutedfor the due dates and basis of an importer's tax in the destination state.

(L. 1998 S.B. 619)

Effective 1-1-99