The Connecticut Department of Revenue Services has issued a new information publication for businesses within the state. The publication covers everything from business formation and registration to record keeping and taxation.
The publication includes recent changes to Connecticut's tax scheme. These changes include the implementation of a new economic nexus rule, which went into effect December 1, 2018.
Remote sellers must now register with the Department and obtain a sales and use tax permit if, during a 12-month period from October 1 to September 30, they made 200 or more retail sales into Connecticut or had at least $250,000 in gross receipts from sales into Connecticut.
Note that out-of-state sellers that repair or service goods sold by them into the state must also register with the Department and obtain a sales and use tax permit.