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Income earned from the sale of natural gas or propane when sold to be used as a motor vehicle fuel is now exempt for sales prior to June 30, 2008. Originally this exemption was set to expire with taxable quarters starting after June 30, 2004. (SB 218, Laws 2004.)

(07/28/2004)

Tangible personal property sold to acute care, for-profit hospitals for the purposes of constructing and equipping them are exempt from sales tax. The exemption is effective July 1, 2004, provided a certificate of need was filed by this date. (House Bill No. 5801, Public Act No. 04-2, May, 2004)

(07/28/2004)

A Managed Compliance Program Guide has been issued by the Connecticut Department of Revenue to explain three major categories: managed audit agreements, managed compliance agreements, and direct pay permits. Some details are given as to what an effective use tax rate is and how a direct payment permit works. An effective use tax rate is "the rate of use tax to be applied against a predetermined base of purchases to compute an eligible taxpayer's use tax liability for a defined period of time." This is calculated by obtaining the ratio of taxable purchases to total purchases made during the base period and then multiplying the ratio by 6% (use tax rate). A direct pay permit allows a taxpayer to pay use tax directly to the Department of Revenue rather than having to pay sales tax to a vendor upon purchase. You can view the entire document by clicking on the following link: Connecticut Department of Revenue Managed Compliance Program Guide (Connecticut Department of Revenue, CT-IP 2004(11), April 23, 2004)

(06/15/2004)

Connecticut's Department of Revenue Services has released a bulletin (IP 2004(11)) describing the department's managed audit agreement, managed compliance agreement, and direct payment permit programs. Information included in the bulletin includes criteria for who qualifies for the programs, benefits, procedures, and other important details for each of the programs. The bulletin and other valuable information can be found at www.ct.gov/DRS. (Connecticut Department of Revenue Services, IP 2004(11), April 23, 2004)

(05/15/2004)

Connecticut's Department of Revenue Services has released a bulletin (IP 2004(11)) describing the department's managed audit agreement, managed compliance agreement, and direct payment permit programs. Information included in the bulletin includes criteria for who qualifies for the programs, benefits, procedures, and other important details for each of the programs. The bulletin and other valuable information can be found at www.ct.gov/DRS. (Connecticut Department of Revenue Services, IP 2004(11), April 23, 2004)

(05/15/2004)

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