SN 2005(3)
2005 Legislative Changes Affecting The Petroleum Products Gross Earnings Tax Effective July 1, 2005
Purpose: This Special Notice is to describe the changes made to the petroleum products gross earnings tax during the 2005 session of the Connecticut General Assembly.
Statutory Authority: Senate Bill No. 2000, §40 (June 2005 Spec. Sess.).
Incremental Rate Increase For Petroleum Products Gross Earnings Tax: For calendar quarters beginning on or after July 1, 2005, gross earnings of companies engaged in the refining or distribution (or both) of petroleum products from the first sale within Connecticut of petroleum products are taxed at the rate listed below:
on or after |
but before |
the tax rate is |
July 1, 2005 |
July 1, 2006 |
5.8 % |
July 1, 2006 |
July 1, 2007 |
6.3 % |
July 1, 2007 |
July 1, 2008 |
7.0 % |
July 1, 2008 |
July 1, 2013 |
7.5 % |
July 1, 2013 |
— |
8.1 % |
For Further Information on the Petroleum Products Gross Earnings Tax or this Special Notice: For further information on the petroleum products gross earnings tax or this Special Notice, call the Excise Taxes Unit of the Audit Division at 860-541-3224 during business hours, Monday through Friday.
For Further Information: Call DRS during business hours, Monday through Friday:
-
1-800-382-9463 (in-state), or
-
860-297-5962 (from anywhere)
TTY, TDD, and Text Telephone users only may transmit inquiries anytime by calling 860-297-4911.
SN 2005(3)
Petroleum Products Gross Earnings Tax
Petroleum Products Gross Earnings Tax Rate Increase
Issued: 06/2005