Plain English Breakdown
The official source material does not provide specific details on how Chapter 219 will be amended, only that the rates are being reduced.
Lowering Sales and Use Taxes
This act reduces the rates of both sales and use taxes to six percent.
What This Bill Does
- Changes the rate of sales tax to six percent.
- Changes the rate of use tax to six percent.
Who It Names or Affects
- People who buy goods and services in Connecticut.
- Businesses that sell goods and services in Connecticut.
Terms To Know
- Sales tax
- A tax charged by sellers on the sale of goods or services to buyers.
- Use tax
- A tax that must be paid when someone uses, stores, or consumes something in a state without paying sales tax on it.
Limits and Unknowns
- The bill does not specify the current rate of sales and use taxes.
- It is unclear what will happen to government revenue from these taxes after the reduction.