Sec. 418.3. Information returns

Tax Law, § 286(2)

(a)

(1) Every person storing motor fuel within the State, who or which is required to be licensed as a terminal operator and to keep records pursuant to section 418.1 of this Part, is also required to file an information return with the Department of Taxation and Finance on a monthly basis. The information return must show the information described in such section 418.1 with regard to all motor fuel stored by such person during the reporting period. In addition, the information return must show the total amounts of each type of motor fuel stored as of the end of each month as determined from its prescribed records and as determined by a physical inventory taken at the end of the month covered by the return; any discrepancy must be explained. The information return must be filed not later than the 25th day of the month following the month for which the return is made. The department may limit the application of any requirement of this section with respect to a registered distributor storing its own product exclusively.

(2) Persons storing diesel motor fuel in this state are also required to file information returns pursuant to paragraph (1) of this subdivision containing the prescribed information with respect to all automotive fuel stored. The provisions of this section shall apply to every person who or which has the use or control or the right to the use or control of an automotive fuel storage facility having a storage capacity of 50,000 gallons or more, and who or which is required to maintain records of such storage. Provided, however, such storage facility shall not include any facility at which automotive fuel is stored solely for its retail sale at such facility or solely for such person's own use and consumption.

(b) Upon request, the Department of Taxation and Finance may permit the information described in subdivision (a) of this section, including the information reflecting a physical inventory of the motor fuel being stored, to be determined as of a date other than the final day of each month. If such permission is granted, the information return required by this section must be filed not later than the 25th day following such alternate date.