Connecticut Account Stated for Construction Work is a legal concept that applies specifically to the construction industry in the state of Connecticut. It represents a contractual agreement between parties involved in construction projects, typically between a property owner and a construction contractor or subcontractor. An Account Stated is a legal claim for payment that arises when one party has provided goods or services to another party, and both parties have reached an agreement on the amount due for those goods or services. In the context of construction work, an Account Stated ensures that all parties involved have officially agreed on the outstanding balance of the project. There are primarily two types of Connecticut Account Stated for Construction Work: 1. Primary Account Stated: This refers to the overall agreement reached between the property owner and the prime or general contractor. It includes all the work completed, materials supplied, and change orders agreed upon, along with their corresponding payment amounts. The primary Account Stated encompasses the entire project and is typically the most comprehensive document in terms of detailing the financial aspects of the construction work. 2. Subcontractor Account Stated: This pertains to the agreements reached between the general contractor and the subcontractors working on the construction project. Subcontractors often have separate contracts with the general contractor, outlining their scope of work, payment terms, and schedule. The subcontractor Account Stated summarizes these individual contracts, detailing the amounts owed to each subcontractor for their completed work or supplied materials. Both types of Account Stated for Construction Work serve as vital documentation in the payment process for construction projects in Connecticut. They provide a clear record of the agreed-upon balance and help resolve any disputes related to payments, change orders, or project completion. These documents are critical in the event of litigation or if either party needs to enforce their rights to payment under the contract.
Connecticut Account Stated for Construction Work
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(1) Repair or maintenance services to tangible personal property shall be taxable if the repairs to the tangible personal property are made in Connecticut.
Food products sold through coin-operated vending machines, meals delivered to the elderly, disabled or homebound, and purchases made with supplemental nutrition assistance program benefits also are exempt from tax. Conn.
Who can file a mechanics lien in Connecticut? Most project participants can file a Connecticut mechanics lien as long as the claim is for at least ten dollars for labor, services, or materials furnished.
What is HIC? HIC stands for Home Improve- ment Certification. Certification shows a working knowledge of Home Improvement Contract Law.
Connecticut law imposes a 6.35% sales tax on all retail sales and certain business and professional services (CGS § 12-408). Business and professional services in Connecticut are presumed to be exempt from the state's sales tax unless specifically identified as taxable by state law.
Consumers or businesses can call our Home Improvement Registration Hotline, at 1-888-520-6680, to report unregistered contractors operating in their communities. Complaints about unregistered contractors can also be emailed to our office at: HIC@attorneygeneral.gov.
Typically, the gross receipts of contractors are not subject to sales or use tax. However, in Connecticut, real property contractors are considered to be retailers of services and must collect sales tax on their taxable services.
All contractors, partnerships, and corporations that solicit, bid on, or perform residential contracting as a contractor or subcontractor on an existing one to four unit owner occupied residential property in Massachusetts must be registered as a Home Improvement Contractor (HIC).
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S. Were not to have the 2nd Amendment. But it is very specific, and does not provide the background information about our economic system and economy that is needed. The article is written by a financial journalist, not a scientist like our government scientists. We may not always agree on a scientific question, but the articles written by financial journalists have to be objective because they have to be able to present an analysis. Why does the economy matter to us? You should realize these ideas have been around for decades and have always been discussed by economists. A few years back we had an analysis on the effects of an economic collapse, and it included a chart showing the effect, which looks similar to our new inflation chart on page 39. However, the article has the benefit of being written in a professional way (it should have done that from the beginning) and it comes after the fact, as the topic was not discussed in 2008.