Form Cert-137 - Sales And Use Tax Certificate For Sale And Leaseback Arrangements - 2005
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1
2Department of Revenue Services
State of Connecticut
Taxpayer Services Division
25 Sigourney Street
Hartford CT 06106-5032
CERT-137
(Rev. 01/05)
Sales and Use Tax Certificate for Sale and Leaseback Arrangements
General Purpose: Retailers and purchasers use this certificate in
Refund From Original Retailer: Within 120 days of the date of
connection with original sales of tangible personal property that are
an original sale on which tax was paid, the purchaser may present
eligible for sales and use tax exclusions or refunds in connection
this certificate to the retailer and the retailer will immediately refund
with sale and leaseback arrangements under Conn. Gen. Stat.
to the purchaser the tax collected on the original sale provided the
§12-407(a)(3)(B).
purchaser has contracted to sell the item of tangible personal
property to a lessor and lease it back from the lessor within one year
Original sales of tangible personal property are excluded from sales
of the date of purchase, in a lease taxable at its inception in
and use taxes, or are eligible for refunds of the taxes, if within 120
Connecticut.
days of the purchase date the purchaser enters into a contract with
a lessor to sell the property to the lessor and lease it back in a lease
The purchaser must give this certificate to the retailer, with a signed
that is taxable at its inception in Connecticut.
copy of its sale and leaseback contract with the lessor or a copy of
a binding agreement with the lessor to sell the property to the lessor
Depending on the circumstances, a purchaser or a retailer may use
and lease it back, signed by both the purchaser and the lessor. The
this certificate in one of the following ways:
purchaser must also attach a copy of its receipt or invoice showing
1. A purchaser may purchase tangible personal property from a
sales and use taxes were paid on the original sale.
retailer to be used in a sale and leaseback arrangement without
Retailer’s Refund or Credit From DRS: If a retailer refunds tax
paying sales and use taxes;
to a purchaser within 120 days, the retailer may present a copy of
2. A purchaser may obtain a sales and use tax refund from a retailer
this certificate and the attachments to the certificate to claim a tax
for tangible personal property to be used in a sale and leaseback
refund or credit from DRS.
arrangement;
3. A retailer that has refunded tax to a purchaser may claim a tax
Purchaser’s Refund From DRS: If a purchaser paid tax to a
refund or credit from the Department of Revenue Services (DRS);
retailer on the original sale, or self-assessed use tax, the purchaser
or
may provide this certificate directly to DRS for a refund. The
4. A purchaser may obtain a sales and use tax refund directly from
purchaser may claim the refund within three years under Conn. Gen.
DRS for tangible personal property to be used in a sale and
Stat. §12-425.
leaseback arrangement.
Within 120 days of the date of an original sale on which tax was
paid, the purchaser must have sold or contracted to sell the item of
Statutory Authority: Conn. Gen. Stat. §12-407(a)(3)(B).
tangible personal property to a lessor and lease it back from the
Tax Exclusion at Time of Original Sale: At the time of sale of
lessor within one year of the date of purchase in a lease that is
an item of tangible personal property, if a purchaser has contracted
taxable at its inception in Connecticut.
with a lessor to sell the property to the lessor and lease it back from
The purchaser must provide this certificate to DRS, together with
the lessor within one year of the date of purchase in a lease taxable
an executed copy of its sale and leaseback contract with the lessor
at its inception in Connecticut, the original sale is excluded from
or a copy of a binding agreement with the lessor to sell the property
sales and use taxes.
to the lessor and lease it back, signed by both the purchaser and the
The purchaser must provide this certificate to the retailer, together
lessor. If the purchaser paid tax to a retailer at the time of sale, the
with an executed copy of its sale and leaseback contract with the
purchaser must also include a bill of sale so indicating and a copy of
lessor or a copy of a binding agreement with the lessor to sell the
Form AU-524, Assignment of Retailer’s Rights for Refund, signed
property to the lessor and lease it back, signed by both the purchaser
by the retailer.
and the lessor.
Notice to Purchasers and Retailers: Keep a copy of this
A retailer must accept this certificate and the proper attachments in
certificate and all attachments for six years after the date of purchase.
good faith. A retailer’s good faith will be questioned if the retailer
knows anything from which the retailer could reasonably infer that
For More Information: Call Taxpayer Services at 1-800-382-9463
the purchaser is not entitled to the exclusion under Conn. Gen. Stat.
(in-state) or 860-297-5962 (from anywhere). TTY, TDD, and Text
§12-407(a)(3)(B).
Telephone users only may transmit inquiries anytime by calling
860-297-4911. Preview and download forms and publications from
the DRS Web site at
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