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Does the partial exemption apply to the retailers prepaid purchases or to the price paid by the consumer?

April 26, 2017consumer paid partial prepaid price purchases retailers

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Does the partial exemption apply to the retailers prepaid purchases or to the price paid by the consumer?

1 Answer

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The partial exemption applies to the price paid by the consumer. The per-gallon prepaid sales tax collected by distributors will be reduced as well. Prepaid sales tax paid to suppliers will be adjusted to a rate of $0.055 (5.5 cents) per gallon for the period July 1, 2010 through March 31, 2011.