DEPARTMENT OF STATE REVENUE
SUBJECT: PREPAYMENT OF SALES TAX ON GASOLINE
Step 1
1) The statewide average retail price per gallon of gasoline (excluding the Indiana gasoline tax, the federal gasoline tax, and the Indiana gross retail tax); multiplied by
2) The state gross retail tax rate (7%); multiplied by
3) Eighty percent (80%); rounded to
4) The nearest one-tenth of one cent ($0.001)
Step 2
1) Determine the lesser of the results in Step 1 or
2) The product of:
(i) The prepayment rate in effect on the day immediately preceding the day on which the prepayment rate is redetermined; multiplied by
(ii) One hundred twenty-five percent (125%); rounded to
3) The nearest one-tenth of one cent ($0.001)
Using the most recent retail price of gasoline available (as required by IC 6-2.5-7-14 (b)), the department has determined the statewide average retail price per gallon of gasoline to be three dollars sixteen and five-tenths cents ($3.165) for the month of February 2013. The data is derived from:
| Step 1 | ||
| Statewide average retail price per gallon: | 3.165 | |
| Multiplied by the state retail tax: | ×.07 | |
| 0.22155 | ||
| Multiplied by 80%: | × 0.8 | |
| 0.17724 | ||
| Rounded to the nearest one-tenth of one cent: | 0.177 | |
| Step 2 | ||
| Previous 6-month prepayment rate: | 0.183 | |
| Multiplied by 125%: | × 1.25 | |
| 0.22875 | ||
| Rounded to the nearest $0.001: | 0.229 |
Based on the previous calculations, Step 1 will be used to determine the prepayment rate. The prepayment rate of sales tax on gasoline for the 6-month period beginning July 1, 2013, is seventeen and seven-tenths cents ($0.177) per gallon.
The prepayment rates for periods beginning July 1, 1994, are established below:
| Period | Rate Per Gallon | ||
| July 1, 1994 | to | December 31, 1994 | 2.9 cents |
| January 1, 1995 | to | June 30, 1995 | 3.7 cents |
| July 1, 1995 | to | December 31, 1995 | 3.3 cents |
| January 1, 1996 | to | June 30, 1996 | 3.3 cents |
| July 1, 1996 | to | December 31, 1996 | 3.4 cents |
| January 1, 1997 | to | June 30, 1997 | 4.0 cents |
| July 1, 1997 | to | December 31, 1997 | 3.9 cents |
| January 1, 1998 | to | June 30, 1998 | 4.0 cents |
| July 1, 1998 | to | December 31, 1998 | 2.9 cents |
| January 1, 1999 | to | June 30, 1999 | 3.0 cents |
| July 1, 1999 | to | December 31, 1999 | 2.4 cents |
| January 1, 2000 | to | June 30, 2000 | 3.6 cents |
| July 1, 2000 | to | December 31, 2000 | 4.6 cents |
| January 1, 2001 | to | June 30, 2001 | 4.9 cents |
| July 1, 2001 | to | December 31, 2001 | 4.9 cents |
| January 1, 2002 | to | June 30, 2002 | 4.9 cents |
| July 1, 2002 | to | December 31, 2002 | 3.2 cents |
| January 1, 2003 | to | June 30, 2003 | 5.3 cents |
| July 1, 2003 | to | December 31, 2003 | 6.6 cents |
| January 1, 2004 | to | June 30, 2004 | 6.5 cents |
| July 1, 2004 | to | December 31, 2004 | 6.6 cents |
| January 1, 2005 | to | June 30, 2005 | 7.6 cents |
| July 1, 2005 | to | December 31, 2005 | 7.8 cents |
| January 1, 2006 | to | June 30, 2006 | 11.2 cents |
| July 1, 2006 | to | December 31, 2006 | 9.5 cents |
| January 1, 2007 | to | June 30, 2007 | 11.9 cents |
| July 1, 2007 | to | December 31, 2007 | 9.9 cents |
| January 1, 2008 | to | June 30, 2008 | 12.4 cents |
| July 1, 2008 | to | December 31, 2008 | 15.5 cents |
| January 1, 2009 | to | January 31, 2009 | 19.4 cents |
| February 1, 2009 | to | June 30, 2009 | 9.9 cents |
| July 1, 2009 | to | December 31, 2009 | 8.9 cents |
| January 1, 2010 | to | June 30, 2010 | 11.1 cents |
| July 1, 2010 | to | December 31, 2010 | 11.8 cents |
| January 1, 2011 | to | June 30, 2011 | 12.3 cents |
| July 1, 201 | to | December 31, 2011 | 15.1 cents |
| January 1, 2012 | to | June 30, 2012 | 17.2 cents |
| July 1, 2012 | to | December 31, 2012 | 16.3 cents |
| January 1, 2013 | to | June 30, 2013 | 18.3 cents |
| July 1, 2013 | to | December 31, 2013 | 17.7 cents |
