Motor Fuel Tax Schedules And Reports Instruction Page 28
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43Report the total non-taxable gallons sold for resale and your exports.
● Enter the total gallons in the applicable columns, by product code, from schedules 6 and 7.
Line 11: Gal. ND tax-exempt = Sch. 8+10.
Use disbursed schedule types 8 and 10 to complete this line.
Report the total gallons claimed as tax-exempt sales on schedule types 8 and 10..
● Enter the total gallons in the applicable columns, by product code, from schedules 8 and 10.
Line 12: Book inventory = lines 1+2+3-4-6-10-11.
Compute your ending “book” inventories.
● Add lines 1, 2, and 3, and subtract lines 4, 6, 10, and 11.
Line 13: Ending physical inventory.
Report your actual physical inventory, by product type, at the end of the period covered by your report.
This is not a restatement of line 12.
● Enter the correct physical inventory readings for each applicable column. This is NOT OPTIONAL.
Line 14: Gains: IF line 12 is less than line 13, enter dif.
If the book inventory on line 12 is less than the actual physical inventory on line 13, you have a gain.
● Compute the gain by subtracting line 12 from line 13, for each column, and enter the difference.
Line 15: Losses: IF line 12 is greater than line 13, enter dif.
If the book inventory on line 12 greater than the actual physical inventory on line 13, you have a loss.
● Compute the loss by subtracting line 13 from line 12, for each column, and enter the difference.
Line 16: Tax due at $.23 per gal. = $.23 x line 8.
Compute the total tax on gasoline, unblended ethanol, unblended methanol, and other blending
components, before deducting a collection allowance.
● Multiply $.23 times Columns A, C, D, and E, line 8.
Line 17: Tax due at $.23 per gal. on gasohol = $.23 x line 9.
Compute the total tax on gasohol, before deducting a collection allowance.
● Multiply $.23 times Column B, line 9.
Line 18: Tax subject to allowance = lines 16+17.
Compute the gross tax due, before deducting a collection allowance.
● Add Column F, lines 16 and 17.
Line 19: Collection allowance = .02 x line 18.
Compute the allowance provided to licensees for collecting and remitting the tax.
● Multiply .02 (2%) times Column F, line 18.
Line 20: Tax due on excess loss = p. 2, line 40.
Report the tax due on excess losses subject to the $.23 per gallon tax.
Complete this line only when reconciling your inventory to determine if there is tax due on excess losses.
● When applicable, enter the tax amount from page 2, line 40.
Line 21: Total tax due = lines 18-19+20.
Compute the net tax payable, after deducting a collection allowance.
● Subtract line 19 from line 18, and add line 20.
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