“Changes intended to make tax collections more stable, combined with constraints intended to promote fiscal prudence, have strayed far wide of the mark.”
Tax Foundation’s annual ranking of states based on state and local tax collection placed Connecticut second in the nation, trailing only New York, for the most money collected per resident.
Connecticut has the second highest tax burden in the nation, according to a new report by 24/7 Wall Street, which used data from the Tax Foundation. Connecticut ranked behind New Jersey, but ahead of New York, which placed dead last in the country for its tax burden.
Connecticut slid backwards in the Tax Foundation’s annual ranking of states based on their business tax climate. Connecticut ranked 44th in the nation - one ranking lower than last year - and far behind Massachusetts, which ranked 22nd in the nation. Connecticut, however, did beat out New York and New Jersey.
In 2017, facing a $220 million out-year budget deficit, Gov. Dannel Malloy proposed a one-dollar per month surcharge for cellphone use, which quickly raised eyebrows throughout the state. The cellphone surcharge would be in addition to taxes users already pay to use their mobile phones. Connecticut imposes a 7.82 percent ...
Everyone knows that living in Connecticut is expensive, but how far will $100 get you in the Nutmeg State? A state-by-state study conducted by the Tax Foundation purports to answer that very question. Using the 2014 price index from the U.S. Bureau of Economic Analysis, the Tax Foundation found that in Connecticut $100 only translates to $91.91 in actual purchasing power.