What are my duties as a Trustee?
• As trustee of the taxes paid, you have a fiduciary duty to remit to the secretary the amount of tax received. If you fail to remit the tax, you are liable for the taxes paid to you. • You must notify a licensed distributor, licensed exporter, or licensed importer who received gasoline or diesel fuel from you during a reporting period of the number of taxable gallons received. • You must notify the secretary within the time period established by the secretary if a licensed distributor, licensed exporter or licensed importer did not pay the tax, you must notify the Department of Revenue. • You cannot apply the payment of tax to a debt that the person making the payment owes for gasoline or diesel fuel purchased from you.
