California Revenue and Taxation Code

§ 7361.2

RTC § 7361.2 Effective Apr 28, 2017Div. 2 · Part 2 · Ch. 2

Statute text

(a)For the privilege of storing, for the purpose of sale, each supplier, wholesaler, and retailer owning 1,000 or more gallons of tax-paid motor vehicle fuel on November 1, 2017, shall pay a storage tax, the rate of which shall be determined by the board pursuant to the difference in the rate of the tax on motor vehicle fuel in effect on October 31, 2017, and the rate in effect on November 1, 2017, on tax-paid motor vehicle fuel in storage according to the volumetric measure thereof.

(b)For purposes of this section:

(1)“Owning” means having title to the motor vehicle fuel.

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Legislative history

Added by Stats. 2017, Ch. 5, Sec. 26. (SB 1) Effective April 28, 2017.