Indexed Tax On Asphalt Increases One Cent To 48 Cents Per Ton
Beginning July 1, 1998, the indexed tax used in calculating use tax on asphalt manufactured by a contractor for his own use will be 48 cents per ton through June 30, 1999.
Use tax on asphalt manufactured for a contractor's own use is to be computed as follows:
If tax has been paid to a third party on the cost of materials or transportation in (a) or (b) above, then the cost of such materials or transportation shall not be included in computing the total tax due. The tax shall be due in the month the asphalt is manufactured for your own use and is required to be remitted no later than the 20th day of the following month.
On July 1st of each year, the indexed tax is adjusted according to a producer price index calculated and published by the United States Department of Labor, Bureau of Statistics.