How Many Fondue Pots Can You Really Use?

NOW'S THE SEASON FOR EXCHANGES, REPLACEMENTS, REFUNDS 

(Hartford, CT - December 26, 2013) HamletHub News Service -- 

Department of Revenue Services (DRS) Commissioner Kevin B. Sullivan today offered suggestions for shoppers planning to return or exchange gifts that are duplicates, the wrong size or color, defective or broken, or just not quite right.

PAIN-FREE, HASSLE-FREE 

Said Commissioner Sullivan, "We know your Aunt meant well but how many fondue pots can you really use? And, of course, everything you got for those teenage kids is wrong. People may have a number of reasons for returning or exchanging gifts they receive during the holidays. The most painless, hassle-free way to do this it to have the actual sales receipt or a gift receipt for item you take back to a store. Receipts show the actual price paid for the item and, if you are returning it for cash or store credit, shows whether sales tax was paid so you can have it refunded when you make the return to the store."

If sales tax was paid on an item and it is returned within 90 days of purchase with a receipt, sales tax must be refunded along with the purchase price. If the store gives a reduced refund or credit, consumers are still owed the full tax on the original purchase. Without a receipt showing tax paid, the retailer cannot verify that the tax was collected on the item when it was purchased.

Added Commissioner Sullivan, if an item is being exchanged for an identical or similar item it would not create any sales tax issues because no sales tax would be paid or refunded on the exchange. However, having a receipt will make any transaction easier.

More information about returns and exchanges can be found in Information Publication 2011(17) Sales and Use Taxes on Returned Goods, Even Exchanges, and Trade-Ins on the Connecticut Department of Revenue Services website at www.ct.gov/DRS.Media calls should be directed to the communications office at (860) 297-5610 or emailed tosarah.kaufman@po.state.ct.us.

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Submitted by Darien, CT

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