CT HB05494

Exempts sales of specific enumerated services from sales tax when rendered between affiliated business entities where one entity owns a controlling interest in the other, or both entities share the same controlling owner(s).

Reduces the threshold for "controlling interest" from 100% to at least 80% ownership for corporations, partnerships, limited liability companies, and limited liability partnerships.

Maintains 100% ownership threshold for trusts, estates, sole proprietorships, single-member LLCs, and nonstock corporations.

Defines "business entity" to include corporations, trusts, estates, partnerships, LLCs, sole proprietorships, nonstock corporations, and federally-recognized Indian tribes.

Takes effect October 1, 2016, amending section 12-412(62) of the general statutes.