Despite increasing General Fund revenue by $2.52 billion over the next two years, Connecticut will still face billion-dollar budget deficits from 2022 through 2024, according to a budget report released by the Office of Fiscal Analysis. “The General Fund is projected to be in deficit by over $1 billion per ...
Connecticut’s Taxes and Fees
You heard it first on WTIC 1080 with Jim Vicevich!
Here is the brand new publication from the Yankee Institute for Public Policy – the list of all of Connecticut’s 306 revenue streams for Fiscal Year 2008.
Download the complete list now!
Connecticut collected revenue from 306 sources in FY2008. You already know about the big ones, like the Income Tax (but do you really know who pays the Income Tax? Find out now), the Estate Tax, the cigarette tax, or gas taxes.
But you probably haven’t heard that licensing fees for electricians brings in $1.1 million. Taxes on horse racing brought in $4.6 million. And these are just the tip of the iceberg.
If Connecticut eliminated 200 of the 306 revenue sources, fee payers would save $38 million at very minimal loss to the state. There is no estimate on how much it costs to administer and collect these fees.
Join the Yankee Institute’s membership now and spread the word about our list.
United States District Judge J. Paul Oetken dismissed a lawsuit by Connecticut and three other states against the Donald Trump administration, the U.S. Department of Treasury and the Internal Revenue Service over its cap on state and local property tax deductions, commonly known as SALT. The judge concluded “Congress enacted ...