This bill is similar to legislation introduced in both the 20 legislative sessions that did not make it out of committee. As written, it is unclear whether the income to be taxed is limited to gross income earned from data procured from New York individuals or if a broader base (i.e., any gross income) applies. The bill says little about how the tax will work – and fails to define or use existing defined terms within New York’s franchise tax. The legislation proposes to impose a 5 percent tax on the gross income of every corporation that derives income from the data New York individuals share with such corporations. On January 17, 2023, S1845 was filed and referred to the Budget and Revenue Committee. (6) It shall be an unfair or deceptive act or practice for a new car dealer or used car dealer to advertise the price for the sale of any motor vehicle unless the stated price in such advertisement includes the federal tax, the cost of delivery, dealer preparation and any other charges of any nature, except any state or local tax or registration fees, or any dealer conveyance fee or processing. New York legislators are back at it again, too. the dealers name, address, and whether it sells new cars, used cars, or both. a description of how the fee was calculated, and the reason for any month-to-month variance in the fee amount and. The Joint Committee on Finance, Revenue and Bonding will now consider these proposed bills and determine if it should be sent to the Legislative Commissioners’ Office for full drafting of the bill’s text. the average amount charged as a conveyance or processing fee in each month between Octoand Septem2. Because Connecticut legislators may introduce legislation as a short statement in non-statutory language, HB 3573, SB 351, and HB 5658 lack the formal statutory language normally found in other states. Our website is open 24/7 for Connecticut shoppers The safety of our customers and staff are our first priority, to support you we offer At-Home Test Drives. Similar proposals were introduced in Connecticut during the 2021 legislative session. HB 5658 was also proposed, which similarly calls for a 10 percent tax on the annual gross revenues from digital advertising services on any business with annual gross rev enues exceeding $10 billion, with no caveat that revenues be from digital advertising services. ![]() On January 18, 2023, proposed legislation was filed in the Connecticut House ( HB 5673 ) and Senate ( SB 351) that would establish a 10 percent tax on the annual gross revenues of any business with annual gross revenues exceeding $10 billion from digital advertising services. Both states have considered – but ultimately rejected – legislation that would adopt targeted taxes on the digital economy in recent years. Summary State law generally requires a person who sells real property for at least 2,000 to pay a tax on the property’s conveyance. This report updates OLR Report 2017-R-0107. ![]() ![]() A number of Connecticut digital advertising bills and a New York data tax bill have been introduced to jumpstart the 2023 legislative sessions. Real Estate Conveyance Tax By: Rute Pinho, Chief Analyst J 2020-R-0020 Issue Explain Connecticut’s real estate conveyance tax.
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