General Assembly Committee Bill No. 548
January Session, 2011 LCO No. 2990
*02990SB00548PS_*
Referred to Committee on Public Safety and Security
Introduced by:
(PS)
General Assembly
Committee Bill No. 548
January Session, 2011
LCO No. 2990
*02990SB00548PS_*
Referred to Committee on Public Safety and Security
Introduced by:
(PS)
AN ACT CONCERNING AN EXEMPTION FROM THE SALES TAX FOR AUCTION SALES MADE DURING A FUNDRAISING EVENT HELD BY A NONPROFIT ORGANIZATION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 12-412 of the general statutes is amended by adding subdivision (119) as follows (Effective October 1, 2011):
(NEW) (119) Sales of tangible personal property during an auction conducted at a fundraising or social event by an auctioneer who is hired to conduct such auction by a nonprofit organization exempt from taxation pursuant to paragraph (3) of section 501(c) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2011 12-412
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2011
12-412
Statement of Purpose:
To exclude from taxation all sales of tangible personal property during an auction conducted by an auctioneer hired by a nonprofit organization to conduct such auction at a fundraising or social event.
[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.]
Co-Sponsors: SEN. STILLMAN, 20th Dist.; REP. RITTER E., 38th Dist.
Co-Sponsors:
SEN. STILLMAN, 20th Dist.; REP. RITTER E., 38th Dist.
S.B. 548