The Indiana Schedule 1: Receipts (also known as State Form 55501) is a supplementary documentation tool utilized by fuel distributors to substantiate the purchase amounts declared on their Consolidated Gasoline Use Tax Monthly Tax Return, commonly referred to as Form GT-103. Its primary function is to serve as a detailed monthly ledger where businesses summarize every acquisition of gasoline, ensuring that both the volume of fuel bought and the corresponding use taxes paid to vendors are meticulously tracked. When using this document, distributors are instructed to group identical transactions together while maintaining a strict separation between standard gasoline and gasohol product categories. By organizing exempt and taxable gallons alongside supplier identification details, this schedule acts as a vital internal worksheet that guarantees the main tax return is populated with accurate, verified data.
How To File Indiana Sch-1R
You do not actually submit this document to the state tax authorities. The form is explicitly marked as a record-keeping worksheet that should not be filed. Your responsibility is to retain it securely within your business accounting records to support your tax calculations. The data compiled on this schedule is simply transferred over to the primary GT-103 return, which is the actual tax document you will formally submit.
How To Complete Indiana Sch-1R
Product Code
Specify the exact classification number for the fuel you bought. You must ensure that standard gasoline and gasohol are processed on separate reporting pages.
Name Of Supplier
Provide the official business title of the vendor that sold you the fuel.
Point Of Origin State
Note the state from which the gasoline or gasohol originated before transportation.
Point Of Destination State
Record the final state where the fuel shipment was delivered.
Supplier FEIN
Write down the Federal Employer Identification Number belonging to your fuel provider.
Indiana TID
Enter the vendor’s unique Indiana Taxpayer Identification Number, provided that they have been issued one.
Total Gallons Purchased
Document the complete volume of fuel acquired from the supplier. Make sure this number accounts for all gallons, regardless of whether they are exempt or subject to taxation.
Gasoline Use Tax Paid To Supplier
List the precise amount of use tax that you handed over to the vendor during the purchase. If there was no tax applied to the transaction, enter a zero in this space.
Total
Sum up all of your recorded fuel receipts and the corresponding taxes remitted. When dealing with standard gasoline (specifically product codes 061 and 065), merge these totals and carry the final amount over to Section 1, Line 1 of Form GT-103. If you are calculating gasohol (which encompasses codes E01 through E99 and M01 through M99, including taxable E85 blends), combine those figures and transfer that resulting sum to Section 1, Line 2 of your GT-103 return.