Sec. 12-430a. Determination of sales tax on certain construction equipment or machinery when such equipment or machinery is traded in on purchase.
Sec. 12-430a. Determination of sales tax on certain construction equipment
or machinery when such equipment or machinery is traded in on purchase. In any
sale at retail of construction equipment or machinery, the source of power for which is
an integral part of any individual unit of such equipment or machinery, which sale is
made by a retailer of such equipment or machinery who accepts a trade-in of such
equipment or machinery in such sale, the sales tax with respect to such sale shall not
be applicable to the entire purchase price of such equipment or machinery but shall be
imposed on the difference between such purchase price and the amount allowed by the
retailer on such equipment or machinery traded in as a credit against the entire purchase
price of such equipment or machinery purchased. When any such equipment or machinery traded in is subsequently sold to a consumer or user, the tax imposed under this
chapter shall be applicable to such sale.
(P.A. 85-457, S. 1, 2.)
History: P.A. 85-457 effective July 1, 1985, and applicable to sales of such construction equipment or machinery on
or after July 1, 1985.