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Articles

Budget panel won't pass spending plan — again
For the second consecutive year, the legislature's Appropriations Committee will not recommend a new budget before its deadline. But Democratic and Republican leaders from the House and Senate said lawmakers will continue working between now and the session's end on May 9 to close a projected shortfall in the fiscal year that begins July 1.
Fiscal stability plan must proceed at a slower pace
Acknowledging that legislators are unlikely this spring to enact their complete, multi-tiered plan to stabilize Connecticut’s finances, the leaders of a key state panel have agreed to pursue a piecemeal approach — for now. But the principals of the Commission on Fiscal Stability and Economic Growth also insisted they have not abandoned their push for a more comprehensive overhaul of state finances, predicting legislators still will be pressed to act next year.
DRS: Newegg Online Sales Will Comply with CT State Sales Tax Collection
Connecticut Department of Revenue Services (DRS) Commissioner Kevin Sullivan announced today that Newegg Inc., a California-based online retailer of computer hardware and consumer electronics, will collect and remit sales tax on sales made into the state.    The company previously did not collect sales tax in Connecticut. DRS began billing Connecticut taxpayers for use tax due on the sale of taxable goods because sales tax had not been collected by the retailer.
CT Economist: No Recession Lurking
The prospect for Connecticut's and the U.S. economies lapsing into recession anytime soon are remote, but new trade tariffs, a jittery stock market, plus this state's stubborn job recovery and population loss, could impact both down the road, an economist says. "The good news: A U.S. recession is still unlikely over the near term,'' said New Haven economist Don Klepper-Smith, who is an adviser to Farmington Bank, noting the current recovery is into its ninth year.
Overview of the Connecticut Retirement Security Program
By Leonard G. Brown, FSA, MAAA, Pension Benefit Consultants, Inc. Member, CTCPA Employee Benefit Plans Interest Group
Moody’s: Connecticut Cities and Towns Feel Pressured By State’s Fiscal Woes
Connecticut’s cities and towns will continue to feel financial pressure based on their exposure to fiscal uncertainties and adverse economic and demographic trends, according to a new report released by Moody’s Investors Service
Omnibus spending bill has millions to strengthen CT voting system against cyber attacks
The massive omnibus spending bill President Donald Trump signed into law Friday contains $380 million — including up to $5 million for Connecticut – to protect digital voting systems from cyberattacks.
CPE Reciprocity Advances in CT
March  22, 2018 At their March 15 meeting, the General Law Committee of the 2018 Connecticut General Assembly placed Senate Bill 327, “An Act Concerning License Renewal Requirements for Certified Public Accountants” on their consent agenda, which means the committee passed the bill and it has now been filed with the Legislative Commissioner’s Office. The next step for the bill will be a vote on the floor of the state Senate, although that date has not been set. If passed...
CTCPA Fighting to Preserve CPAs’ Expert Testimony and Valuation Services in Property Tax Issues
The CTCPA is fighting diligently to preserve the ability of CPAs – in municipal property tax appeals – to perform valuation services, serve as expert witnesses before the court, and, in general, represent their clients in related proceedings. Last month, the CTCPA testified before the Planning & Development Committee regarding Senate Bill 182 , a measure that would restrict CPAs from performing services they currently provide in certain property tax or valuation matters for...
Four Months Later, A State Budget Deficit Still Lingers
The state budget is expected to end the year in the red by about $192.7 million.

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