In any sale at retail of any new or remanufactured part of an item of tangible personal property to a purchaser, which sale is made by a retailer of such parts who will accept in return from such purchaser a core component or core part of such tangible personal property, the sales or use tax with respect to such sale shall be imposed on the difference between the purchase price and the amount allowed by the retailer on the returned core component or core part, provided the retailer shall collect the tax, at the time of sale, on the purchase price and, when the core component or core part is returned, shall refund such tax on the amount allowed by the retailer on the returned core component or core part. When any such core component or core part traded in is subsequently sold to a consumer or user, the taxes imposed under this chapter shall be applicable to such sale.

Terms Used In Connecticut General Statutes 12-412j

  • Personal property: All property that is not real property.
  • Retailer: includes :

    (A) Every person engaged in the business of making sales at retail or in the business of making retail sales at auction of tangible personal property owned by the person or others. See Connecticut General Statutes 12-407

  • sale at retail: means and includes a sale for any purpose other than resale in the regular course of business of tangible personal property or a transfer for a consideration of the occupancy of any room or rooms in a hotel, lodging house or bed and breakfast establishment for a period of thirty consecutive calendar days or less, or the rendering of any service described in subdivision (2) of this subsection. See Connecticut General Statutes 12-407
  • Tangible personal property: includes (A) digital goods, (B) canned or prewritten computer software, including canned or prewritten software that is electronically accessed or transferred, other than when purchased by a business for use by such business, and any additional content related to such software, and (C) the distribution, generation or transmission of electricity. See Connecticut General Statutes 12-407
  • Use: includes the exercise of any right or power over tangible personal property incident to the ownership of that property, except that it does not include the sale of that property in the regular course of business. See Connecticut General Statutes 12-407
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