Indiana Schedule 501A

This article provides a comprehensive, step-by-step guide on how to complete Indiana Schedule 501A, which is used to report fuel receipts for terminal operators in the state.

Indiana Schedule 501A, known as the Terminal Operator’s Schedule of Receipts, is a form used by terminal operators to report the fuel they receive. It helps track the fuel products entering the state or a terminal, documenting the mode of transport, the transporter, and the position holder involved in each receipt. This schedule is vital for ensuring compliance with Indiana’s fuel tax regulations. The data reported on this form is used to determine tax liabilities and ensure accurate reporting of fuel transactions.

How To File Indiana Schedule 501A

To file Indiana Schedule 501A, you will need to gather information about the fuel receipt transaction, including the transporter, the position holder, and the transportation mode. The form should be completed separately for each fuel product type. It’s important to ensure all information is accurately reported, as the totals from this schedule will need to be carried over to the FT-501, Terminal Operator’s Monthly Return form for tax reporting purposes.

How To Complete Indiana Schedule 501A Line-By-Line Instructions

How To Complete Indiana Schedule 501A: Line-By-Line Instructions

Identifying Information

  1. Terminal Operator Name
    Enter the name of the terminal operator who is filing the schedule.
  2. License Number
    Enter your fuel tax license number issued by the state of Indiana.
  3. Federal Employer Identification Number (FEIN)
    Enter the FEIN of your company. This is a unique identification number provided by the IRS.
  4. Terminal Code
    Enter the terminal code assigned to the terminal from which the fuel is being received.
  5. Month/Year
    Enter the month and year for which you are filing the schedule.

Transporter Information

  1. Transporter Name
    Enter the name of the company or individual transporting the fuel to the terminal.
  2. Transporter FEIN
    Enter the FEIN of the transporter.

Transaction Information

  1. Mode of Transport
    Enter the transportation method used to move the fuel. Use the appropriate code:
    • J: Truck
    • PL: Pipeline
    • R: Rail
    • B: Barge
    • ST: Stock Transfer
    • BA: Book Adjustment
    • S: Ship (Great Lakes or Ocean Vessel)
  2. Position Holder Information (Name/Address)
    Enter the name and address of the position holder (the entity that owns or leases the storage space in the terminal).
  3. Position Holder FEIN
    Enter the FEIN of the position holder.
  4. Document Date
    Enter the date shown on the shipping document when the fuel was received.
  5. Document Number
    Enter the identifying number of the shipping document, such as the terminal receipt number.

Receipt Information

  1. Net Gallons Received
    Enter the number of net gallons received, as indicated on the shipping document.

Subtotals

  1. Subtotal by Position Holder
    For each position holder, subtotal the net gallons received in Column 8. These subtotals should be carried over to Schedule FT-501I, Column 4.

Final Steps

  1. Total Gallons Received
    Add up the totals from Column 8 for all transactions on this form. The grand total should be carried over to the FT-501, Terminal Operator’s Monthly Return.
Back to top button