Sales Tax Collection Reaches Record High In Connecticut
Connecticut sales tax collections between July and December rose to their highest level on record. That was after the state expanded the number of online retailers subject to the 6.35% tax.
The state Department of Revenue Services says Connecticut took in an additional $102 million in sales tax revenues in the first six months of the fiscal year, producing a record $1.94 billion.
Sales tax revenue in December alone was nearly $500 million, a 17% increase over the previous record.
The sales tax is the second largest source of revenue in Connecticut after income taxes.