Page 597
House Bill No. 5506
Public Act No. 22-118 597 of 739
treasurer, or the person performing the duties of treasurer, or of an authorized agent or officer, with such other information as the Commissioner of Revenue Services deems necessary. (d) The tax imposed by this chapter is due and payable to the Commissioner of Revenue Services quarterly on or before the last day of the month next succeeding each calendar quarter. Sec. 434. Section 12-265 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022, and applicable to taxable quarters commencing on or after July 1, 2022): (a) As used in this section (1) with regard to electric power, "sales for resale" include (A) sales of electric power capacity, (B) power output from such capacity, and (C) all transmission charges in conjunction with such sales on or after May 17, 1982, (2) "net invoice price" means invoice price less trade discounts, and (3) "municipal utility" means a municipality, or department or agency thereof, or district manufacturing, selling or distributing gas or electricity to be used for light, heat or power. (b) (1) Each company [and municipal utility] included in section 12- 264, other than an electric distribution company, as defined in section 16-1, included in subsection (c) of section 12-264, [and other than a municipality, or department or agency thereof, or district manufacturing, selling or distributing electricity to be used for light, heat or power,] shall be taxed at the rate of five per cent upon the amount of gross earnings in each taxable quarter from operations, except as set forth in subsection (c) or (d) of this section and except that each company [and municipal utility manufacturing, selling or distributing gas or electricity to be used for light, heat or power] shall be taxed at the rate of four per cent upon the amount of gross earnings in each taxable quarter allocable to residential service, but deduction shall be made of gross earnings (A) from all sales for resale of water,