Section 40-17-38

Discount allowed to distributors, etc., licensed under Section 40-12-194.

The Commissioner of the Department of Revenue is hereby authorized and directed to allow refiners, storers, distributors, or wholesalers, as defined by Section 40-17-30, who have been licensed by the Department of Revenue under the provisions of Section 40-12-191, and who have made bond, as is required under Section 40-12-194, a discount in an amount equal to two percent of the first $5,000 of tax paid and one percent of all amounts of tax paid in excess of $5,000 under the provisions of Section 40-17-31, as amended, and Section 40-17-220, not to exceed in any case $400 on taxes paid in any one month, the amount of said discount being for the purpose of partially defraying the costs to such licensed and bonded refiners, storers, distributors, or wholesalers of making reports to the Department of Revenue and of maintaining complete and accurate records to the reporting and paying of this tax. Whoever defaults in reporting and paying such taxes when the same become due and payable to the state shall not be allowed a discount under this section.

The Commissioner of the Department of Revenue shall allow distributors or wholesalers, as defined in Section 40-17-30, who have been licensed by the Department of Revenue under the provisions of Section 40-12-191, and who have made bond, as required in Section 40-12-194, and who remit their state gasoline taxes based on receipts, a discount in an amount equal to two percent of all amounts of gasoline taxes paid under the provisions of Section 40-17-31, as amended, and Section 40-17-220, as amended, the amount of said discount, which shall not exceed $500 per month, being for the purpose of partially defraying the cost of losses in volume due to the evaporation shrinkage incurred in the handling of gasoline by such licensed and bonded distributors or wholesalers as defined in this article. The Commissioner of Revenue is authorized and directed to promulgate reasonable rules and regulations to effectuate the purposes of this section.

(Acts 1959, No. 299, p. 871; Acts 1982, No. 82-415, p. 626; Acts 1984, 1st Ex. Sess., No. 84-798, p. 211.)