5-7 or in this chapter, a retail merchant shall pay to the department, for a particular reporting period, an amount equal to the product of:(1) seven percent (7%); multiplied by(2) the retail merchant's total gross retail income from taxable transactions made during the reporting period.The amount determined under this section is the retail merchant's state gross retail and use tax liability regardless of the amount of tax the retail merchant actually collects.As added by Acts 1980, P.L.52, SEC.1. Amended by P.L.2-1982(ss), SEC.3; P.L.192-2002(ss), SEC.60; P.L.146-2008, SEC.311.
Indiana Legal Code