Illinois Administrative Code
Title 86 - REVENUE
Part 500 - MOTOR FUEL TAX
Subpart B - MOTOR FUEL TAX
Section 500.204 - Report of Loss of Motor Fuel
Current through Register Vol. 48, No. 38, September 20, 2024
a) All licensed suppliers, distributors, and receivers are required to report all losses of motor fuel sustained by them on account of fire, theft, spillage, spoilage, leakage or any other provable cause when filing the return for the period during which the loss occurred in order that the Department may make such investigation as it may deem necessary.
b) The mere making of such a report does not assure the allowance of the loss as a credit on account of tax liability with respect to the loss, but failure to report the losses promptly may result in the refusal of the Department to allow credit on account of tax liability with respect to a loss.
c) On and after July 1, 2001, for each 6-month period January through June, net losses of fuel (for each category of fuel that is required to be reported on a return) as the result of evaporation or shrinkage due to temperature variations may not exceed 1% of the total gallons in storage at the beginning of each January, plus the receipts of gallonage each January through June, minus the gallonage remaining in storage at the end of each June. On and after July 1, 2001, for each 6-month period July through December, net losses of fuel (for each category of fuel that is required to be reported on a return) as the result of evaporation or shrinkage due to temperature variations may not exceed 1% of the total gallons in storage at the beginning of each July, plus the receipts of gallonage each July through December, minus the gallonage remaining in storage at the end of each December. Any net loss reported that is in excess of this amount shall be subject to the tax imposed by Section 2 or 2a of the Law and the fee imposed by Section 310 of the Environmental Impact Fee Law. "Net loss" means the number of gallons gained through temperature variations minus the number of gallons lost through temperature variations or evaporation for each of the respective 6-month periods. (Sections 2b, 5, and 5a of the Law)
d) Distributors or suppliers reporting loss due to fire or theft must include fire department or police department reports with their returns.
