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CT SB01048

Bill

Official Source

Status

Introduced

4/6/2017

Primary Sponsor

Finance, Revenue and Bonding Committee

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Origin

Senate

2017 General Assembly

AI Summary

  • Reduces the sales tax rate on vessel purchases to 50% of the standard rate, effective July 1, 2017
  • Reduces the use tax rate on vessels stored, accepted, or used in Connecticut to 50% of the standard rate, effective July 1, 2017
  • Exempts vessels from sales and use taxes if docked in the state for 60 or fewer days in a calendar year
  • Maintains existing exemptions for labor and repair or maintenance services on existing vessels
  • Applies to all sales and uses occurring on or after July 1, 2017

Legislative Description

An Act Reducing The Rate Of Sales And Use Taxes On Vessels.

Last Action

File Number 739

5/9/2017

Committee Referrals

Finance, Revenue and Bonding4/6/2017

Full Bill Text

No bill text available