This Monday, Gov. Ned Lamont and the General Assembly are expected to vote during a special legislative session on whether to extend the 25-cents per gallon gas tax holiday, which expires Dec. 1. Waived last […]
Taxes
House Republican leadership is questioning the constitutionality of a proposed “Equitable Investment Fund” that would use new and increased taxes on capital gains, digital advertising, sports gambling, marijuana sales and a second income tax on […]
Republican leaders today announced they are partnering with No Tolls CT to hold a series of rallies around the state to oppose the Transportation and Climate Initiative and the highway use tax on trucks, which […]
The General Assembly’s joint Finance, Revenue and Bonding committee observed the 30th anniversary of Connecticut’s state income tax by imposing a new, separate income tax on the state’s top earners. The committee approved a 25-part measure which includes a new “consumption tax” on state residents with federal adjusted gross […]
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 […]
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 […]
Three decades have passed since the historic budget crisis that culminated in the creation of Connecticut’s personal income tax.The tax was enacted out of desperation: a roaring private sector buoyed a multi-year explosion in state spending, which left state government deep in the red as the economy slowed and tax revenues sank. Connecticut’s income tax experience has been a cautionary tale about increasing the state’s reliance on higher-earners
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 […]
