17 NCAC 12B .0201 — Racing Fuel

Racing fuel that meets all of the following requirements is not considered gasoline under G.S. 105-449.60 and is not subject to the per gallon excise tax: (1) Has an octane rating of 110 or higher; (2) Contains lead; (3) Does not contain detergent additives; (4) Does not conform to the Reid Vapor Pressure standards for reformulated or oxygenated gasoline; and (5) Does not meet ASTM specifications for gasoline. section .0300 – payment and reporting 17 NCAC 12B .0301 REPORTING INFORMATION IN THE PROPER REPORTING PERIOD All motor fuel transactions must be reported on the tax return for the month or other filing period in which the transaction occurred and may not be carried over to a return for a subsequent period. If, after filing a return, a person discovers information that affects the return, the person must file an amended return for the affected period and must pay any tax, penalty, and interest due with the amended return. section .0400 – refunds