KRS 138.270: Computation of gasoline and special fuels tax and supplemental highway

user motor fuel tax -- Monthly reports, when due.

(1) (a) From the total number of gallons of gasoline and special fuel received by the

dealer within this state during the next preceding calendar month, deductions

shall be made for the total number of gallons received by the dealer within this

state that were sold or otherwise disposed of during the next preceding

calendar month as set forth in KRS 138.240(2).

(b) To cover evaporation, shrinkage, unaccountable losses, collection costs, bad

debts, and handling and reporting the tax, each dealer shall be allowed

compensation equal to two and one -fourth percent (2.25%) of the net tax due

the Commonwealth pursuant to KRS 138.210 to 138.448 before all allowable

tax credits, except the credit authorized pursuant to KRS 138.358. No

compensation shall be allowed if the completed tax return and payment are

not submitted to the department within the time prescribed by KRS 138.210 to

138.448.

(2) The tax imposed by KRS 138.220(1) and (2) shall be computed on the number of

gallons remaining after the deductions set forth in subsection (1) of this section

have been made, and shall constitute the amount of tax payable for the next

preceding calendar month.

(3) Notwithstanding any other provision of this chapter to the contrary, any person who

shall remit to the department, by the twenty -fifth day of the next month, an

estimated tax due amount equal to not less than ninety -five percent (95%) of his tax

liability, as finally determined for the report month, shall not be required to file the

monthly reports required by this chapter until the last day of the month following

the report month, and shall be permitted to claim as a credit against the tax liability

shown due on the report the estimated tax due amount so paid.