General Assembly Raised Bill No. 1048
January Session, 2017 LCO No. 5758
*05758_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)
General Assembly
Raised Bill No. 1048
January Session, 2017
LCO No. 5758
*05758_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)
AN ACT REDUCING THE RATE OF SALES AND USE TAXES ON VESSELS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subparagraph (E) of subdivision (1) of section 12-408 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2017, and applicable to sales occurring on or after July 1, 2017):
(E) (i) With respect to the sales of labor that is otherwise taxable under subparagraph (C) or (G) of subdivision (2) of subsection (a) of section 12-407 on existing vessels and repair or maintenance services on vessels occurring on and after July 1, 1999, such services shall be exempt from such tax;
(ii) With respect to the sale of a vessel, at the rate of fifty per cent of the rate specified in subparagraph (A) of this subdivision, except that such sale shall be exempt from such tax [provided] if such vessel is docked in this state for sixty or fewer days in a calendar year;
Sec. 2. Subparagraph (D) of subdivision (1) of section 12-411 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2017, and applicable to sales occurring on or after July 1, 2017):
(D) (i) With respect to the acceptance or receipt in this state of labor that is otherwise taxable under subparagraph (C) or (G) of subdivision (2) of subsection (a) of section 12-407 on existing vessels and repair or maintenance services on vessels occurring on and after July 1, 1999, such services shall be exempt from such tax;
(ii) With respect to the storage, acceptance or other use of a vessel in this state, at the rate of fifty per cent of the rate specified in subparagraph (A) of this subdivision, on the sales price of such vessel, except that such storage, acceptance or other use shall be exempt from such tax [, provided] if such vessel is docked in this state for sixty or fewer days in a calendar year;
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2017, and applicable to sales occurring on or after July 1, 2017 12-408(1)(E)
Sec. 2 July 1, 2017, and applicable to sales occurring on or after July 1, 2017 12-411(1)(D)
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2017, and applicable to sales occurring on or after July 1, 2017
12-408(1)(E)
Sec. 2
July 1, 2017, and applicable to sales occurring on or after July 1, 2017
12-411(1)(D)
Statement of Purpose:
To reduce the rate of sales and use taxes on vessels.
[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.]