Motor Fuel Tax Schedules And Reports Instruction (Page 30 of 43) in pdf

Motor Fuel Tax Schedules And Reports Instruction Page 30

Complete the following lines on the back of the tax report when reconciling

your inventory to determine if there is tax due on excess losses. (This

must be done at least once in a 12-month period.)

● All header information.

● For a reconciliation covering only the current month, complete only lines 35 through 40.

● For a reconciliation covering more than one month, complete lines 27 through 40.

Line 27: Physical inven. = transfer entry from p. 1, Col. F, line 1 (from report for ﬁ rst month in

reconciliation period).

This is the beginning physical inventory used as the starting point for this reconciliation.

● Enter the gallons from page 1, Column F, line 1, of the ﬁ rst report covered by the reconciliation

period.

EXAMPLE:

► The period covered by the reconciliation is July 2005 through October 2005.

► The ﬁ rst report covered by the reconciliation period is July 2005.

► Enter the gallons from p. 1, Column F, line 1 of the report for July 2005.

Line 28: Gal. mfg., purchased, imported = sum. of p.1, Col. F, line 2.

Report the total gallons fuel acquired during the months covered by the reconciliation.

● Add the page 1, Column F, line 2, gallons from each month covered by this reconciliation, and enter

that total.

Line 29: Gal. taxable at $.23 per gal. = sum. of p. 1, Col. F, line 4.

Report the total gallons motor vehicle fuel sold or used subject to the ND $.23 per gallon tax during the

months covered by the reconciliation.

● Add the page 1, Column F, line 4, gallons from each month covered by this reconciliation, and enter

that total.

Line 30: Gal. taxable at $.23 per gal. = sum. of p. 1, Col. F, line 6.

Report the total gallons motor vehicle fuel sold or used subject to the ND $.23 per gallon tax during the

months covered by the reconciliation.

● Add the page 1, Column F, line 6, gallons from each month covered by this reconciliation, and enter

that total.

Line 31: Gal. ND non-taxable = sum. of p. 1, Col. F, line 10.

Report the total gallons of fuel sold or used during the period covered by this reconciliation not subject to

the ND $.23 per gallon tax.

● Add the page 1, Column F, line 10, gallons from each month covered by this reconciliation, and enter

the total on this line.

Line 32: Gal. ND tax-exempt = sum. of p. 1, Col. F, line 11.

Report the total gallons of tax-exempt sales to consumers during the period covered by this reconciliation.

● Add the page 1, Column F, line 11, gallons for each month covered by this reconciliation, and enter

that total.

Line 33: Book inven. = lines 27+28-29-30-31-32.

Compute the book inventory for the entire period covered by this reconciliation.

● Add lines 27 and 28 and subtract lines 29, 30, 31, and 32.

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Motor Fuel Tax Schedules And Reports Instruction Page 30