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Tuesday, December 6, 2022

New Stimulus Check Announced By Connecticut: Second Sales Tax- Free

States are still providing financial assistance to citizens through tax credits for children, rebates on taxes and other forms to at least partially counteract the effects of inflation. Connecticut is the newest state to join this expanding group, and it has developed a novel strategy to reduce costs in the state. A sales tax-free week is Connecticut’s latest economic stimulus check measure. Sunday marks the beginning of Connecticut’s second Sales Tax-Free Week, marking the first time the state has held two sales-tax holidays in a year.

Connecticut To Join The Long List Of States Providing Stimulus Check: 

Gov. Ned Lamont declared that the state’s second “Sales Tax-Free Week” in 2022 will begin the following week. The second Sales Tax-Free Week should take place from Sunday through Saturday, Aug 21–27, as part of Connecticut’s most recent stimulus check package. Connecticut’s first sales tax holiday was observed from April 10 through April 16.

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Currently, the state’s sales tax rate is 6.35%, which applies to most retail purchases, taxable services, and leases or rentals of most commodities. Residents can purchase qualified (clothing and footwear) items under $100 tax-free during the Sales Tax-Free Week of stimulus check.

Furthermore, the exemption will be offered even if the customer purchases multiples of the same item on the same invoice. Residents will profit from the lack of sales tax and any discounts that merchants may be extending.

The state currently levies a 6.35% sales tax on most retail purchases, taxable services, and leases or rents of the majority of goods. During the Sales Tax-Free Week, residents may buy eligible (clothing and footwear) items under $100 tax-free.

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Additionally, even if the consumer orders multiples of the same product on the same invoice, the exemption will still be available. Residents will benefit from the absence of sales tax and any reductions that businesses may offer.

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