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The 126th Ohio General Assembly recently enacted Amended Substitute House Bill 66 that provides for changes in the state motor vehicle fuel excise tax.
Effective July 1, 2005, the licensed dealer shrinkage allowance provided for in R.C. 5735.06 will be reduced to 2.5 percent, and the retail shrinkage allowance will be reduced to 0.83 percent.
Effective July 1, 2006, the licensed dealer shrinkage allowance provided for in R.C. 5735.06 will be reduced to 1.95 percent, and the retail shrinkage allowance will be reduced to 0.65 percent.
Effective July 1, 2005 |
Effective July 1, 2006 |
|
Licensed Dealer Shrinkage Allowance |
2.50% (.0250) |
1.95% (.0195) |
Retail Dealer Shrinkage Allowance |
0.83% (.0083) |
0.65% (.0065) |
The tax return for June, 2005, which is due August 1, 2005, should be filed with the previous shrinkage rates. The first tax return subject to these new rates will be for the month of July 2005, which is due August 31, 2005.
Enclosed is an updated Licensed Dealer’s Monthly Ohio Motor Fuel Tax Report (MF-2). You may copy this form as necessary and begin using this new form immediately. Please destroy the form that was mailed in a previous release.
If you have any questions, please contact the Ohio Motor Fuel Tax Unit at (614) 466-3503.
Ohio Department of Taxation
Motor Fuel Tax Section
P.O. Box 530
Columbus, Ohio 43216-0530
Telephone: (614) 466-3503
Fax: (614) 752-8644
Web site: tax.ohio.gov
