Second Week Approaching – Sales Tax Relief for Sellers of Meals

Second Week Approaching – Sales Tax Relief for Sellers of Meals

The Connecticut Department of Revenue Services is offering certain sellers of meals the opportunity to retain all sales tax they collect on sales of meals during a specified period of time. The second eligible period of December 12, 2021, through December 18, 2021, is approaching.

For a seller to qualify, the business must make sales of meals and be included in Sector 72 of the North American Industrial Classification System (NAICS). The seller is responsible to determine if they qualify and fall within the parameters of this sector. Sellers can determine if they fall under this sector by viewing the list of Sector 72’s codes and titles found on the NAICS website. Most restaurant establishments should qualify.

Sellers may retain all sales tax collected within only one of the following weeks:
● August 1, 2021, to August 7, 2021;
● December 12, 2021, to December 18, 2021; or
● May 15, 2022, to May 21, 2022.

The seller is able to decide which week they would like to retain sales tax on. Sellers are only eligible to retain sales tax on one of the three weeks listed above. If a seller decides to take advantage of this benefit, they will need to provide the applicable week they have chosen as well as information about the meal sales made during that week. The seller will provide this information when filing Form OS-114, Connecticut Sales and Use Tax Return, for the period that includes the applicable week.

The DRS website provides additional information to assist sellers at portal.ct.gov/DRS.

Contact Us

The Innovative CPA Group strives to keep our valued clients informed of the opportunities available to them. If you are interested in taking advantage of this sales tax relief benefit, we are readily available to assist. Please get in touch with us at 203-489-0612 or via our contact form.

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2021-12-06T15:41:13+00:00December 1st, 2021|Business, Connecticut, Tax, Tax Credit|

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