Taxable fuel definition

Taxable fuel means motor fuel, undyed diesel fuel with the exception of kerosene, aviation special
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Taxable fuel means motor fuel, undyed diesel fuel with the exception of kerosene, aviation special fuel, clean special fuels, synthetic motor fuel, synthetic special fuel, ethanol and blends thereof and any other substance blended with any of the foregoing, to include kerosene or #1 fuel oil when used in a highway vehicle.
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Taxable fuel means fuel on which Customs or Excise duty is payable [section 110-5]. This arrangement — taxing and crediting — is necessary to deal with the fact that fuel tax is paid by the manufacturer or importer of the fuel, well before it is used. Therefore, the fuel tax is levied on the assumption that the fuel could be used in a taxable way, and credits are granted to reverse the effect of the tax when it becomes clear that the fuel will be put to a non-taxable use — that is, used by a taxpayer in carrying on their enterprise.
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Examples of Taxable fuel in a sentence

  • Taxable fuel is entered into the United States when it's brought into the United States and applicable customs law requires that it be entered for consumption, use, or warehousing.

  • Taxable fuel means gasoline, diesel fuel, and kerosene.Taxable fuel registrant means an enterer, industrial user, refiner, ter- minal operator, or throughputter that is registered as such under section 4101.

  • Taxable fuel is entered into the United States when it is brought into the United States and applicable customs law requires that it be entered for consumption, use, or warehousing.

  • Ex- cept as provided in paragraphs (c)(1)(ii) and (c)(1)(iii) of this section, blended taxable fuel means any taxable fuel that is produced outside the bulk transfer/ terminal system by mixing—(A) Taxable fuel with respect to which tax has been imposed under sec- tion 4041(a)(1) or 4081(a) (other than taxable fuel for which a credit or pay- ment has been allowed); and(B) Any other liquid on which tax has not been imposed under section 4081.(ii) Exclusion; minor blending.

  • Paragraph (g) is revised.The revisions read as follows: § 48.4081–7 Taxable fuel; conditions for refunds of taxable fuel tax under section 4081(e).* * * * *(b) * * *(4) The person that paid the first tax to the government has met the reporting requirements of paragraph (c) of this section.(c) * * * (1) Reporting by personspaying the first tax.

  • Taxable fuel (as defined in section 4083(a)) or any liquid taxable under section 4041(c) that is used as fuel on a flight for which amounts paid are exempt from the taxes imposed by sections 4261 and 4271 by reason of section 4261(e)(5) is not fuel used in commercial aviation, as that term is defined in section 4083(b).

  • Paragraph (l)(4) is added.The revisions and additions read as follows: §48.4101-1 Taxable fuel; registration.

  • Taxable fuel specified for the Opt-in Scheme is liquid petroleum fuel.

  • Paragraph (f) is added.The addition and revision read as follows: §48.4081-2 Taxable fuel; tax on removal at a terminal rack.

  • The revisions and additions read as fol-lows: §48.4081–1 Taxable fuel; definitions.* * * * *(b) * * *Aviation gasoline means all special grades of gasoline that are suitable for use in aviation reciprocating engines and cov- ered by ASTM specification D 910 or military specification MIL-G-5572.


More Definitions of Taxable fuel

Taxable fuel means motor fuel, undyed diesel fuel, aviation special fuel, clean special fuels,
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Taxable fuel means fuel in respect of which duty is payable under:
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Taxable fuel means alternative fuel, aviation gasoline, aviation jet fuel, blended fuel, diesel fuel,
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Related to Taxable fuel

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Post-Distribution Tax Period means a Tax period beginning and ending after the Distribution Date.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Taxable means either:

  • Transaction Payroll Taxes means the employer portion of any employment or payroll Taxes with respect to any bonuses, severance, option cashouts, Change in Control Payments or other compensatory payments in connection with the transactions contemplated by this Agreement, whether payable by Buyer, the Company or its Subsidiaries.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.

  • Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.

  • Taxable Period means any taxable year or other period that is treated as a taxable year with respect to which any Tax may be imposed under any applicable statute, rule or regulation.

  • Taxable Wage Base means the contribution and benefit base in effect under Section 230 of the Social Security Act at the beginning of the Plan Year.

  • REMIC I Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC I Remittance Rate for REMIC I Regular Interest I-LTAA minus the Marker Rate, divided by (b) 12.

  • Taxable Supply ’ means a supply of goods or services or both which is leviable to tax under this Act;

  • REMIC II Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC II Remittance Rate for REMIC II Regular Interest AA minus the Marker Rate, divided by (b) 12.

  • Tax Detriment means an increase in the Tax liability (or reduction in refund or credit or any item of deduction or expense) of a Taxpayer for any taxable period. Except as otherwise provided in this Agreement, a Tax Detriment shall be deemed to have been realized or incurred from a Tax Item in a taxable period only if and to the extent that the Tax liability of the Taxpayer for such period, after taking into account the effect of the Tax Item on the Tax liability of such Taxpayer in the current period and all prior periods, is more than it would have been had such Tax liability been determined without regard to such Tax Item.

  • distribution losses means energy losses that result from the interaction of intrinsic characteristics of the distribution network such as electrical resistance with network voltages and current flows;

  • MUNICIPAL TAXABLE INCOME means the following:

  • Income Taxes means any taxes measured, in whole or in part, by net or gross income or profits together with any interest, penalties or additions to tax.

  • taxable service means any service provided or to be provided –

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Straddle Tax Period means any taxable period beginning on or before and ending after the Closing Date.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Taxable value shall have the meaning assigned to such term in Section 1.04(10) of the TEXAS TAX CODE.

  • Wasteload allocation or "wasteload" or "WLA" means the portion of a receiving surface water's loading or assimilative capacity allocated to one of its existing or future point sources of pollution. WLAs are a type of water quality-based effluent limitation.

  • REMIC 2 Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and related REO Properties then outstanding and (ii) the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LTAA minus the Marker Rate, divided by (b) 12.