Connecticut § 12-599 Tax to constitute operating overhead of taxpayer. Limitation on price increases in this state*.

Connecticut Statutes

§ 12-599 — Tax to constitute operating overhead of taxpayer. Limitation on price increases in this state*.

Connecticut § 12-599

Title 12Taxation

Ch. 227Sale of Petroleum Products Gross Earnings Tax

This text of Connecticut § 12-599 (Tax to constitute operating overhead of taxpayer. Limitation on price increases in this state*.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 12-599 (2026).

Text

(a)It is not the intention of the General Assembly that the tax imposed under section 12-587 be construed as a tax upon purchasers of petroleum products, but that such tax shall be levied upon and be collectible from petroleum companies as defined in said section 12-587, and that such tax shall constitute a part of the operating overhead of such companies.

(b)No petroleum company subject to the tax imposed under section 12-587 shall raise its posted wholesale rack price in Connecticut for any petroleum product exempt from the federal Emergency Petroleum Allocation Act (P.L. 93-159) by an amount higher than the average amount by which such company raises its wholesale rack price for such product in all ports on the eastern coast of the United States. *Note: Unconstitutional as violative o

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(a) It is not the intention of the General Assembly that the tax imposed under section 12-587 be construed as a tax upon purchasers of petroleum products, but that such tax shall be levied upon and be collectible from petroleum companies as defined in said section 12-587, and that such tax shall constitute a part of the operating overhead of such companies. (b) No petroleum company subject to the tax imposed under section 12-587 shall raise its posted wholesale rack price in Connecticut for any petroleum product exempt from the federal Emergency Petroleum Allocation Act (P.L. 93-159) by an amount higher than the average amount by which such company raises its wholesale rack price for such product in all ports on the eastern coast of the United States. *Note: Unconstitutional as violative of supremacy clause. Mobil Oil Corp. v. Dubno (D.C. 1980) 492 F. Supp. 1004.

Legislative History

(P.A. 80-71, S. 13, 30.) History: P.A. 80-71 effective July 1, 1980, and applicable to calendar quarters commencing on or after that date. Cited. 202 C. 583. Cited. 44 CS 407.