Section 45IAC12-7-2. Sale or exchange agreement; deduction

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   (a) A licensed distributor who acquires or receives gasoline in this state who subsequently sells, transfers, or exchanges the gasoline to or for the account of another licensed distributor may claim a deduction for the gasoline.

  (b) The deduction may be taken only after the licensed distributor has submitted adequate documentation to the administrator.

  (c) Except as provided in section 908 of this chapter [IC 6-6-1.1-908], the deduction must be claimed on the report covering the month of sale, transfer, or exchange. (Department of State Revenue; Reg 6-6-1.1-702(010); filed Sep 19, 1983, 2:23 pm: 6 IR 2325)

                    
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