§ 44-13-5 - Deductions for merchandise sales and alternative fuel.
SECTION 44-13-5
§ 44-13-5 Deductions for merchandise salesand alternative fuel. – (a) In the case of every corporation whose principal business is manufacturing,selling, and distributing to the public illuminating or heating gas, and uponwhich a tax is imposed under § 44-13-4(5), and in the case of everycorporation upon which a tax is imposed under § 44-13-4(2), there shall beallowed as a deduction from the gross earnings from merchandise sales reportedby that corporation in its gross earnings tax returns, the net invoice priceplus the transportation cost of the merchandise.
(b) In the case of every corporation upon which a tax isimposed under § 44-13-4 there shall be allowed as a deduction from thegross earnings from sales reported by the corporation in its gross earnings taxreturns, the total of gross earnings from the sale of alternative fuel asdefined pursuant to the Energy Policy Act of 1992 (P.L. 102-486, Section 301(42 U.S.C. § 13211)) when used as a separately metered motor fuel thatpowers a motor vehicle, from January 1, 1998, until December 31, 2007.