CT SB01057

Authorizes the Commissioner of Revenue Services to enter into agreements with electronic payment processing companies to establish automated sales tax collection.

Requires electronic payment processing companies to segregate the sales tax amount from each payment transaction they process.

Mandates that segregated sales tax amounts are remitted automatically to the state.

Permits the Commissioner to negotiate a percentage of collected sales tax to be retained by the electronic payment processing company as part of any agreement.

Takes effect upon passage.