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The petroleum products tax was re-imposed beginning July 1, 2009. |
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What is the petroleum products tax?
It is a tax on the first possession of petroleum products within this state.
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How do I pay the tax?
The tax is reported on the excise
tax return.
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What rate do I pay?
The rate is .005 and is based on the wholesale value of the product.
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What are the funds used for?
The funds finance a state pollution liability insurance program. The program provides affordable insurance to owners and
operators of underground petroleum storage tanks and heating oil tanks.
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