Motor Fuels Tax Minute, Episode 6

This week on the Motor Fuels Tax Minute our team discusses the gasoline blendstock certificate which identifies products that are taxed similar to gasoline.

 

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Detailed Transcription of Weaver’s Motor Fuels Tax Minute, Episode 6

00:00:00

Leanne: Welcome to Weaver's Motor Fuels Tax Minute, where we talk all things motor fuel. This week we're talking about the gasoline blendstock certificate and its use. For the purposes of federal excise tax, gasoline blendstocks are a defined list of products that are typically, but not exclusively, used in the blending of motor fuel. These products are taxed in the same way as gasoline, subject to some exceptions.

00:00:23

Emilda: That's right, Leanne. There are several enumerated exemptions from the federal excise tax for gasoline blendstocks. One of the most common is the purchase of gasoline blendstocks for use other than in the production of finished gasoline. In order to claim the exemption, the purchaser must provide a supplier with a gasoline blendstock certificate. This certificate enables a person to purchase gasoline blendstocks free of the federal excise tax. But, note that the exemption does not apply to the penny per gallon LUST tax that still applies.

00:00:57

Leanne: In addition to that penny per gallon LUST tax, another critical point is that the blendstock certificate is only for use when those certain enumerated blendstocks are purchased for use other than blending into motor fuel.

00:0:10

Emilda: Yes, if the product purchase is not on the IRS list of gasoline blendstocks, there is no exemption and the certificate cannot be provided. Additionally, if the gasoline blendstocks are being purchased for some other exempt purpose, the certificate cannot be issued.

That is this week's Motor Fuel Minute.

00:01:29

Leanne: Stay tuned next week when we'll be discussing the blender credits and the Inflation Reduction Act. Don't forget to join us at the FTA National Conference next month in Vermont.

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Leanne Sobel

Leanne Sobel

Director, Motor Fuels and Excise Tax Services

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Leanne Sobel, J.D., has over 15 years of experience in legal tax matters. Her career focus includes federal and state tax and…

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