State Tax

News

2019 Legislative Update Permit Requirements for Tax Preparers and Facilitators
Paid tax preparers who prepare more than 10 Connecticut income tax returns or more than 10 federal income tax returns for Connecticut clients, or a combination of both, or who facilitate refund anticipation loans or refund anticipation checks,...
Connecticut Property Taxes Third Highest in U.S.
Connecticut has the third highest per capita property taxes in the nation, according to a new report released this week. The Connecticut Conference of Municipalities report puts the state's per capita property tax burden at $2,847—twice the...
Nonresident Composite Return Option
Last year, the Connecticut General Assembly enacted the pass-through entity tax at the flat rate of 6.99% on most pass-through entities, including partnerships, S corporations and limited liability companies that are treated as partnerships or S...
Counseling Clients on Closing Costs in a 1031 Exchange
Given that a 1031 exchange necessarily involves the sale of real estate, closing costs will always be a part of the transaction. Advertisement Clients routinely ask which of these costs can be paid directly with exchange proceeds without...
As Hurricane Dorian gains strength, IRS encourages preparation for natural disaster
As Dorian threatens and with the peak of hurricane season just ahead, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan. Taxpayers, whether individuals, organizations or businesses, should take time now to...
Taxpayer Mailing Planned: Pass-Through Entities
As a result of legislation enacted in June, the Revenue Services Commissioner is directed to waive any late payment penalty and related interest imposed on pass-through entities in connection with their 2018 Pass-Through Entity Tax, so long as...
DRS Issues Payroll Tax Commission Information Request to Employers
This week, DRS has sent two e-mails to certain employers – the first introduced the information request; the second includes a brief survey.
IRS automatically waives estimated tax penalty for eligible 2018 tax filers
The Internal Revenue Service is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver. The IRS will apply this waiver...
Some cities and towns see tax-break deals as key to economic growth
A number of Connecticut municipalities use tax breaks or incentives to stimulate growth. But for some, particularly cities like Hartford and New Haven with high tax rates, they can be the literal lifeblood of much of the economic development...
More States are Allowing Businesses to Absorb Sales Tax
Recently, Pennsylvania and Texas allowed businesses to absorb sales tax, meaning they can pay the tax due rather than collect it from the consumer. Is this a new trend? It used to be against the law for a business to absorb sales tax in...

More >

 
 

Education

On-Demand: Understanding Connecticut's New Pass-Through Entity Tax

CPE Credits: 2
Learn from members of the CTCPA State Taxation Committee in this two-hour session recorded on August 28, 2018. The session focuses on the practical implications of the new tax on your clients, including a review of the administrative guidance issued by the Connecticut Department of Revenue Services and potential planning opportunities. Our expert panel includes Attorney Alan Lieberman from Shipman and Goodwin, Tony Switajewski from BlumShapiro, Patrick Duffany from CohnReznick, and Matthew Dayton from the Department of Revenue Services.

Check back soon for more programs.

   

The AICPA's "Tax Practitioner's Marketing Toolkit" is filled with client letters and surveys, presentations, brochures, and more! Show your clients that you're a tax pro - download your resources today. (Note: You must be an AICPA member to download the toolkit.