Bill Text: CT SB00335 | 2016 | General Assembly | Introduced

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Bill Title: An Act Concerning Double Taxation Of Business-to-business Transactions.

Sponsorship: Committee Bill

Status: (Introduced - Dead) 2016-03-04 - Public Hearing 03/09 [SB00335 Detail]

Download: Connecticut-2016-SB00335-Introduced.html

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General Assembly		Raised Bill No. 335
February Session, 2016		LCO No. 2382
		*02382_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)

AN ACT CONCERNING DOUBLE TAXATION OF BUSINESS-TO-BUSINESS TRANSACTIONS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 12-412 of the 2016 supplement to the general statutes, as amended by section 196 of public act 14-217, is amended by adding subdivision (122) as follows (Effective October 1, 2016, and applicable to sales occurring on or after said date):

(NEW) (122) Sales of, and the storage, use or other consumption of, any products purchased by a business at wholesale prices which products are then resold to a consumer or otherwise included in a taxable consumer good.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2016, and applicable to sales occurring on or after said date	12-412

Statement of Purpose:

To eliminate the sales and use tax on goods used exclusively in a business process.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]