DRS: 12-426-23, Records - Repealed effective 8/22/00 and replaced by 12-2-12

DRS has reproduced this regulation. This is an unofficial copy. Official copies of regulations ONLY are available from the Commission on Official Legal Publications, 111 Phoenix Avenue, Enfield, CT 06082,  colp@jud.state.ct.us. Copies of DRS forms and publications are available at http://www.ct.gov/drs


Repealed Effective 8/22/00

Replaced by Conn. Agencies Regs. 12-2-12

Conn. Agencies Regs. 12-426-23. Records.

(a) Each seller and retailer as defined in Chapter 219 of the General Statutes shall keep adequate and complete records of his business in this State showing:

(1) The gross receipts from the sale or lease or tangible personal property or from sale of services, including both taxable and non-taxable items and any services that are a part of a sale.

(2) All deductions allowed by law and claimed in filing returns.

(3) Total purchase price of all tangible personal property or services purchased or leased for resale or sublease, and the total purchase price of all such property or services purchased or leased for use and consumption in this State.

Such records shall include the normal books of account ordinarily maintained by the average prudent business man engaged in the activity in question, together with all bills, receipts, invoices, cash register tapes or other documents of original entry supporting the entries in the books of account as well as all schedules or working papers used in connection with the preparation of tax returns.

Failure to maintain such records will be considered evidence of negligence or intent to evade the tax and will result in the imposition of appropriate penalties.

(b) In the case of meals under one dollar, the retailer shall maintain such records to prove the actual sales of individual meals costing less than one dollar to support his claim for exemption; otherwise he will have to pay the tax on the gross receipts from all such meals.

(c) All such records shall be maintained for Department of Revenue Services audits for a period of at least three years unless the destruction or other disposal of the sale is authorized by the Commissioner of Revenue Services, or his authorized representative in writing.

(Effective April 7, 1980.)