Allowance for unaccountable product losses by fuel wholesaler: tax bulletin 5027

Yearly allowance for unaccountable product losses of taxable fuel by a fuel wholesaler.

This tax information bulletin outlines the yearly allowance fuel wholesalers can claim for unaccountable product losses of taxable fuel.

Information includes:

• allowance amount for both gasoline and diesel oil
• products included in the calculation of allowances for gasoline and diesel
• process for calculating the yearly unaccountable product losses for gasoline and diesel oil
• how to use unaccountable product shortages over the allowable amount of certain gasoline or diesel product
• instructions on how to offset other gasoline or diesel oil product shortages by using gains or unused allowances

Diesel oil includes taxable diesel oil, tax-exempt (marked) diesel oil and other middle distillates like tax exempt (marked) furnace oil and tax exempt (marked) stove oil.