CT SB00335

Adds a new exemption to Connecticut's sales and use tax law for products purchased by businesses at wholesale prices and then resold to consumers or included in taxable consumer goods.

Exempts the storage, use, or other consumption of such wholesale-purchased products from sales and use tax.

Effective October 1, 2016, and applies to sales occurring on or after that date.

Amends Section 12-412 of the Connecticut General Statutes to eliminate double taxation on goods used exclusively in business processes.