Distributors' bond--motor fuel trust fund created.
142.896. 1. Distributors shall be required to post a bond of notless than three months' total liability based on the number of gallonshandled as estimated by the director, with a maximum amount of one hundredand fifty thousand dollars for gasoline and diesel fuel separately.
2. The tax on the motor fuel imported shall not be considered part ofpotential liability for calculation of the bond required of a distributor'slicense if the nonexempt motor fuels meet the following conditions:
(1) All of the motor fuel is subject to one or more tax precollectionagreements to remit the motor fuel tax of this state to the supplier orpermissive supplier as trustee with respect to the imports, as providedpursuant to section 142.839; and
(2) The director has determined that all border states have adoptedterminal reporting requirements adequate for the mutual enforcement of thischapter.
3. If a distributor qualifies pursuant to subsection 3 of section142.851 and was not required to have a bond posted pursuant to thepredecessor act, then such distributor may elect to either post the bond asset out in this subsection or participate in a cash bond as set out below.The cash bond shall be held by the director in a "Motor Fuel Bond TrustFund", which is hereby created, for the benefit of the participatingdistributors. The bond shall be used solely for the purpose of preventinga loss to the state for motor fuel taxes, surcharges and fees not paid. Nodistributor shall have any claim or rights against the fund as a separateperson. Contributions to the fund will be made at the rate as defined inregulations promulgated by the director of the department of revenue.Contributions will be remitted by the participating distributors throughthe suppliers under the same procedures as set out for remitting of motorfuel taxes set out in this chapter. The director shall notify thesuppliers of which distributors have elected to participate, when thecontributions are required and when the fund has reached its maximum. Atthat time no further contributions will be required until the fund has beendepleted to the minimum amount established by regulation, at which time thedirector shall notify the distributors and suppliers to resumecontributions at the defined rate. In the event the director has made ademand for payment from a participating distributor in this fund, and suchdemand has not been satisfied within ninety days, the director shall usethe cash bond to satisfy the delinquency. Such action shall not affect theliability of the distributor for the tax or prevent the director fromtaking other actions permitted by this chapter.
4. After the expiration of three consecutive years of satisfactorytax compliance, as determined by the director, a licensed distributor willbe eligible to participate in the pool bond in lieu of furnishing any othertype of bond. The licensed distributor will be required to pay into thepool bond for a minimum of one year regardless whether the pool bond hasreached its maximum or not.
5. The director shall compile a monthly report of all activitiesregarding the motor fuel bond fund including the name and license number ofall licensees who have had a claim made against them, and the report shallbe made available to pool members.
6. A distributor is required to remit the tax due on the last day ofthe succeeding month and file reports prescribed by the director.
7. Each licensed distributor shall report such information asrequired by the director including, but not limited to imports of motorfuel, exports of motor fuel, blending of motor fuels, all receipts of motorfuel, all receipts and sales of dyed fuel, all receipts and sales oftax-free undyed kerosene and the transporting of motor fuel or blend stocksfor or on behalf of others.
8. The report required by this section shall be due on the last dayof each month with respect to information required for the next precedingcalendar month.
Distributors' bond--motor fuel trust fund created.
142.896. 1. Distributors shall be required to post a bond of notless than three months' total liability based on the number of gallonshandled as estimated by the director, with a maximum amount of one hundredand fifty thousand dollars for gasoline and diesel fuel separately.
2. The tax on the motor fuel imported shall not be considered part ofpotential liability for calculation of the bond required of a distributor'slicense if the nonexempt motor fuels meet the following conditions:
(1) All of the motor fuel is subject to one or more tax precollectionagreements to remit the motor fuel tax of this state to the supplier orpermissive supplier as trustee with respect to the imports, as providedpursuant to section 142.839; and
(2) The director has determined that all border states have adoptedterminal reporting requirements adequate for the mutual enforcement of thischapter.
3. If a distributor qualifies pursuant to subsection 3 of section142.851 and was not required to have a bond posted pursuant to thepredecessor act, then such distributor may elect to either post the bond asset out in this subsection or participate in a cash bond as set out below.The cash bond shall be held by the director in a "Motor Fuel Bond TrustFund", which is hereby created, for the benefit of the participatingdistributors. The bond shall be used solely for the purpose of preventinga loss to the state for motor fuel taxes, surcharges and fees not paid. Nodistributor shall have any claim or rights against the fund as a separateperson. Contributions to the fund will be made at the rate as defined inregulations promulgated by the director of the department of revenue.Contributions will be remitted by the participating distributors throughthe suppliers under the same procedures as set out for remitting of motorfuel taxes set out in this chapter. The director shall notify thesuppliers of which distributors have elected to participate, when thecontributions are required and when the fund has reached its maximum. Atthat time no further contributions will be required until the fund has beendepleted to the minimum amount established by regulation, at which time thedirector shall notify the distributors and suppliers to resumecontributions at the defined rate. In the event the director has made ademand for payment from a participating distributor in this fund, and suchdemand has not been satisfied within ninety days, the director shall usethe cash bond to satisfy the delinquency. Such action shall not affect theliability of the distributor for the tax or prevent the director fromtaking other actions permitted by this chapter.
4. After the expiration of three consecutive years of satisfactorytax compliance, as determined by the director, a licensed distributor willbe eligible to participate in the pool bond in lieu of furnishing any othertype of bond. The licensed distributor will be required to pay into thepool bond for a minimum of one year regardless whether the pool bond hasreached its maximum or not.
5. The director shall compile a monthly report of all activitiesregarding the motor fuel bond fund including the name and license number ofall licensees who have had a claim made against them, and the report shallbe made available to pool members.
6. A distributor is required to remit the tax due on the last day ofthe succeeding month and file reports prescribed by the director.
7. Each licensed distributor shall report such information asrequired by the director including, but not limited to imports of motorfuel, exports of motor fuel, blending of motor fuels, all receipts of motorfuel, all receipts and sales of dyed fuel, all receipts and sales oftax-free undyed kerosene and the transporting of motor fuel or blend stocksfor or on behalf of others.
8. The report required by this section shall be due on the last dayof each month with respect to information required for the next precedingcalendar month.
Distributors' bond--motor fuel trust fund created.
142.896. 1. Distributors shall be required to post a bond of notless than three months' total liability based on the number of gallonshandled as estimated by the director, with a maximum amount of one hundredand fifty thousand dollars for gasoline and diesel fuel separately.
2. The tax on the motor fuel imported shall not be considered part ofpotential liability for calculation of the bond required of a distributor'slicense if the nonexempt motor fuels meet the following conditions:
(1) All of the motor fuel is subject to one or more tax precollectionagreements to remit the motor fuel tax of this state to the supplier orpermissive supplier as trustee with respect to the imports, as providedpursuant to section 142.839; and
(2) The director has determined that all border states have adoptedterminal reporting requirements adequate for the mutual enforcement of thischapter.
3. If a distributor qualifies pursuant to subsection 3 of section142.851 and was not required to have a bond posted pursuant to thepredecessor act, then such distributor may elect to either post the bond asset out in this subsection or participate in a cash bond as set out below.The cash bond shall be held by the director in a "Motor Fuel Bond TrustFund", which is hereby created, for the benefit of the participatingdistributors. The bond shall be used solely for the purpose of preventinga loss to the state for motor fuel taxes, surcharges and fees not paid. Nodistributor shall have any claim or rights against the fund as a separateperson. Contributions to the fund will be made at the rate as defined inregulations promulgated by the director of the department of revenue.Contributions will be remitted by the participating distributors throughthe suppliers under the same procedures as set out for remitting of motorfuel taxes set out in this chapter. The director shall notify thesuppliers of which distributors have elected to participate, when thecontributions are required and when the fund has reached its maximum. Atthat time no further contributions will be required until the fund has beendepleted to the minimum amount established by regulation, at which time thedirector shall notify the distributors and suppliers to resumecontributions at the defined rate. In the event the director has made ademand for payment from a participating distributor in this fund, and suchdemand has not been satisfied within ninety days, the director shall usethe cash bond to satisfy the delinquency. Such action shall not affect theliability of the distributor for the tax or prevent the director fromtaking other actions permitted by this chapter.
4. After the expiration of three consecutive years of satisfactorytax compliance, as determined by the director, a licensed distributor willbe eligible to participate in the pool bond in lieu of furnishing any othertype of bond. The licensed distributor will be required to pay into thepool bond for a minimum of one year regardless whether the pool bond hasreached its maximum or not.
5. The director shall compile a monthly report of all activitiesregarding the motor fuel bond fund including the name and license number ofall licensees who have had a claim made against them, and the report shallbe made available to pool members.
6. A distributor is required to remit the tax due on the last day ofthe succeeding month and file reports prescribed by the director.
7. Each licensed distributor shall report such information asrequired by the director including, but not limited to imports of motorfuel, exports of motor fuel, blending of motor fuels, all receipts of motorfuel, all receipts and sales of dyed fuel, all receipts and sales oftax-free undyed kerosene and the transporting of motor fuel or blend stocksfor or on behalf of others.
8. The report required by this section shall be due on the last dayof each month with respect to information required for the next precedingcalendar month.
