The Finance, Revenue and Bonding Committee heard testimony Monday regarding a property tax cap bill that would cap property tax increases at 2.5 percent but allow municipalities to levy a sales or income tax to…
Taxes
The legislature’s Environment Committee today voted 21-11 to pass a bill authorizing Connecticut to participate in the Transportation and Climate Initiative, an multi-state initiative that would require gasoline producers to purchase carbon credits at auction.…
Since its inception in 1991, Connecticut’s income tax has been raised four times, new brackets have been added, and the income tax has become the state’s largest source of revenue, projected to bring in $9.4…
Businesses that have not been making the .5 percent employee pay deduction for Connecticut's Paid Family and Medical Leave program could be left paying the cost out of their own pocket, according to a March…
Connecticut has the second largest tax burden in the United States, according to a new report by the Washington D.C.-based Tax Foundation, which measured the economic impact of taxes on residents in each state as…
It was the year the USSR dissolved – George H.W. Bush was President, and our Governor was Lowell P. Weicker Jr. (I). A lot has changed since 1991 – yet Connecticut is still stuck with…
State officials have warned that upwards of 44,000 businesses in Connecticut have yet to register for Connecticut’s paid family and medical leave program and could potentially face fines. However, according to House Republican Leader Vincent…
On December 21, 2020 Gov. Ned Lamont signed onto a regional cap and invest program called the Transportation and Climate Initiative (TCI) that will raise the price of gasoline by upwards of 17 cents per…
As part of his budget proposal Gov. Ned Lamont included a highway use tax for large trucks based on vehicle weight and miles traveled in the state to raise $90 million annually for the state’s…
Connecticut is paying more per person to the federal government than it receives through direct payments, grants and wages than any other state in the country, according to an annual study produced by the Rockefeller…