Section 351.3. Imposition of tax

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(a) Basis of tax. A tax of 3.5% of the petroleum revenue derived from the first sale of petroleum products made within this Commonwealth is imposed upon oil companies required to file a report.
(b) ‘‘First sale’’ defined. The first sale is the sale to a wholesale or retail dealer, or consumer, or direct use in this Commonwealth of petroleum products occurring immediately after importation or production.
(c) Deferred first sale. A first sale may be deferred when an oil company sells petroleum products to a purchasing oil company which agrees to pay the applicable Oil Company Franchise Tax on its subsequent sale or use. Refer to § 351.6 (relating to first sales to other oil companies which have an Oil Franchise Tax account number).

                    
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