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Instructions for Form PT-350 Petroleum Business Tax Return for Fuel Consumption - Commercial Vessels Revised 9/22

Instructions for Form PT-350 Petroleum Business Tax Return for Fuel Consumption - Commercial Vessels Revised 9/22 2026

Instructions for Form PT-350 Petroleum Business Tax Return for Fuel Consumption - Commercial Vessels Revised 9/22 Preview on Page 1

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The document provides instructions for filing Form PT-350, the Petroleum Business Tax Return for fuel consumption by commercial vessels operating in New York State. It outlines the requirements for who must file, the process for obtaining reimbursements for fuel taxes, deadlines for filing returns, and detailed line-by-line instructions on how to complete the form. Additionally, it includes information on penalties for late filing and payment, as well as guidance on third-party designees and paid preparer responsibilities.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the month for which you are filing, along with your legal name, EIN or SSN, DBA (if applicable), business address, and telephone number in the taxpayer information section.
For Line 1, input the total number of working days of vessels in NYS territorial waters during the month. If none, enter 0.
On Line 2, record the total working days at all locations during the month. Ensure to include relevant days for passenger commuter ferries.
Calculate the working days ratio on Line 3 by dividing Line 1 by Line 2 and enter the result.
For Lines 4 and 10, enter the total gallons of motor fuel and diesel purchased for use in vessels during that month.
Complete Lines 11 through 20 as instructed, ensuring to compute any tax due or overpayment accurately before submitting your return.

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Versions	Form popularity	Fillable & printable
2022	4.9 Satisfied (43 Votes)
2019	4.3 Satisfied (191 Votes)
2013	4.6 Satisfied (59 Votes)
2011	4.9 Satisfied (58 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is PBT tax?

Profit before tax (PBT) is a measure that looks at a companys profits before the company has to pay corporate income tax. It essentially is all of a companys profits without the consideration of any taxes.

What is the tax exempt form for fuel?

Use Form 4136 to claim: A credit for certain nontaxable uses (or sales) of fuel during your income tax year. The alternative fuel credit. Aa credit for blending a diesel-water fuel emulsion.

What is the PBT in income tax?

Net profit before tax (PBT)also known as earnings before tax (EBT), or pretax profitis a measure of a companys profitability that shows how much profit it has generated before income taxes are deducted.

What is the meaning of PBT in tax?

Also known as Earnings Before Tax (EBT), Profit Before Tax (PBT) is the measure of the companys profit before the payment of corporate income tax. It is listed on the income statement of the company.

What is the PBT tax in NY?

The petroleum business tax (PBT) is a privilege tax imposed on petroleum businesses operating in New York State. The PBT is imposed at a cents-per-gallon rate on petroleum products sold or used in the state.