61 Pa. Code § 351.4 — Valuation of sales for reporting petroleum revenue

(a) Sales at arm’s length. An oil company may use its actual sales prices for valuing sales of petroleum products, or in lieu of using the actual sales price, the Department will accept the Average Wholesale Price as determined and publicized by the Department. However, an oil company may not use the actual price for one petroleum product and the Average Wholesale Price for another; nor may the oil company use an average of its own prices to report and pay the tax. (b) Sales not at arm’s length: direct use. Sales not at arm’s length and first sales resulting from direct use are to be valued using the consideration which would have been received in an arm’s length transaction with an unrelated person (market price). The Average Wholesale Price as provided in subsection (a) may also be used. No part of the information on this site may be reproduced for profit or sold for profit. This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.