(A) Except as provided in Section 12-28-510, the tax imposed by this chapter on the use of taxable motor fuel must be measured by invoiced gallons of taxable motor fuel removed, other than by a bulk transfer, by a licensed supplier from a qualified terminal or refinery within this State, and from a qualified terminal or refinery outside this State for delivery to a location in South Carolina as represented on the shipping papers if the supplier imports the taxable motor fuel for his own account or the supplier has made a tax pre-collection election under Section 12-28-910. This tax otherwise generally must be determined in the same manner as the tax imposed by Section 4081 of the Internal Revenue Code of 1986, or the Code of Federal Regulations as it exists as of January 1, 1995, or as subsequently modified.
(B) The tax imposed by this chapter on use of taxable motor fuel in this State as measured by gallons removed by a supplier, or terminal operator, from terminals in this State must be complemented by a tax measured annually at each terminal in this State by the amount by which net gallons lost or unaccounted for, including transmix, within each terminal exceed the sum of net gallon gains plus one-half of one percent times the number of all net gallons removed from the terminal across the rack or in bulk.