Form Ft-501 - Terminal Operator'S Monthly Return Page 2
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1
2Instructions for Completing Fuel Tax
Terminal Operator’s Monthly Return (FT-501)
Who should file the return?
Schedule 501A
Every person who operates a terminal location in Indiana must
Schedule 501A details all receipt transactions, by position
file this return. If you operate more than one terminal location
holder (the position holder is the person who owns or leases
in Indiana, a separate return must be filed for each location.
storage space in your terminal), that support the Schedule
A Licensed Supplier and/or Licensed Gasoline Distributor
501I summary.
operating a terminal in Indiana, must also include their own
activity on this report.
Schedule 501B
When is this return due?
Schedule 501B details all disbursement transactions, by
The Terminal Operator's Monthly Return, Form FT-501 is
position holder, that support the Schedule 501I summary.
due by the 20th day of the month following the month for
This schedule(s) provides detail to support the amount(s)
which the return is being filed. Example: A return for the
shown as disbursements on the Terminal Operator's Return
reporting period of January is due by the 20th of February.
FT-501. Each disbursement of product should be listed on a
If the 20th day of the month falls on a Saturday, Sunday or a
separate line. A separate Schedule 501B should be completed
state or national holiday, the due date of the return is the next
for each product type. Fuel disbursements should be grouped
succeeding day that is not a Saturday, Sunday or such holiday.
together by position holder.
To be considered timely filed by the department, the return
must be postmarked no later than the due date of the return.
Schedule 501I
How do I complete the FT-501?
Schedule 501I summarizes, by position holder, the total
Indicate at the top of the return, the reporting period for which
terminal activity by product for the month. This schedule
you are filing. Enter your company’s identifying information
provides position holder detail to support the amount(s) shown
as it is reflected on your Indiana Fuel Tax License. Complete
as beginning/ending inventories, receipts, disbursements,
the terminal information section. A separate FT-501 and
and stock gains/losses on the Terminal Operator's Monthly
accompanying schedules must be completed for each terminal
location.
Report, FT-501.
Line 1 Enter the actual beginning inventory for each fuel
type listed, for the reporting period. This amount should
To Obtain Forms
agree with your ending inventory amount from Line 5 of
your previous month’s Terminal Operator Monthly Return,
Visit our web site on the Internet and download the forms you
FT - 501.
need. Our address is:
Line 2 Enter the net gallons received into your terminal during
the reporting period. This amount should come from Column
8 of your supporting Schedule(s) 501A.
If you have additional questions:
Line 3 Enter the net gallons disbursed from your terminal for
If you have additional questions, you can call us at (317)
reporting period. This amount should come from Column 9
615-2630 or you can write the Department at:
of your supporting Schedule(s) 501B.
Line 4 Enter any discrepancies that result from stock gains
Indiana Department of Revenue
or losses. Be certain that you circle the “+/-” sign in the box
P. O. Box 6080
to the left indicating a gain or a loss.
Indianapolis, IN 46206-6080
Line 5 Enter your actual ending inventory for the reporting
period.
Note: Line 1, plus Line 2, minus Line 3, plus or minus Line
4 should equal Line 5. In a month to month comparison, the
beginning inventory of this month (Line 1) should match the
ending inventory (Line 5) from last month's report.
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