News

Homeowners could be in line for a but of income tax relief under a plan legislative Republicans unveiled Monday morning at a media briefing in Hartford.

Residents exiting Massachusetts took a net of $4.2 billion in adjusted gross income with them in 2023, one of the largest totals in the country, after a tax on millionaires took effect.

CTCPA State Tax Group Chair Alan Clavette recently testified before the Connecticut General Assembly’s Finance, Revenue and Bonding Committee in support of the State Tax Group’s proposal, HB 5445 – An Act Concerning the Amortizable Bond Premium Subtraction for Purposes of the Personal Income Tax. More than a dozen group members and CTCPA Executive Director Bonnie Stewart also submitted written testimony supporting the proposal.

Earlier this session, we alerted members to concerns about Sections 1 and 2 of HB 5222. Introduced as part of the Connecticut Department of Consumer Protection (DCP) clean-up bill, these sections would have significantly changed how CPA regulation is enforced in Connecticut by allowing DCP to independently exercise enforcement powers in CPA matters. We are pleased to report that DCP leadership has agreed to remove Sections 1 and 2 from HB 5222.

Industry advocates and small business owners argue that the credit would help boost the economy and spur innovation in the state.

Can Connecticut become the Silicon Valley of quantum tech? Comptroller Sean Scanlon thinks it’s at least a possibility.

Gov. Ned Lamont informed Democratic legislative leaders in a conference call Monday afternoon he intends to use his line-item authority to strike references to earmarks and other spending from the emergency-certified bill passed last week.

The General Law Committee is considering a privacy bill that would restrict how Connecticut state and law enforcement agencies use automated license plate readers, including Flock cameras.

Following the release of the Department of Education’s Notice of Proposed Rulemaking (NPRM) titled Reimagining and Improving Student Education, the American Institute of CPAs (AICPA) submitted its response acknowledging the Departments efforts to clarify the definition of “professional,” and urging the incorporation of similar language into the final rule, making the intent clear within the Code of Federal Regulations itself.

Should Connecticut workers pay income tax on income they receive from tips or work beyond the standard 40-hour week? About a dozen Republican representatives say no.

Gov. Ned Lamont refused Thursday to rule out vetoing portions of the emergency bill speeding through the General Assembly towards his desk, wary over the inclusion of provisions that provide new earmarks or clarify badly written ones already in the budget.

As the state Senate prepared to vote on a number of bills Wednesday, the Republican caucus decried the emergency certification designation applied to a pair of them.

The General Assembly is poised to take an “emergency” shortcut to pass legislation that would, among other things, provide millions in earmarks and other grants to select communities and groups, extend a moratorium on addressing racial imbalances in schools and set worker-friendly standards on warehouses.

A series of sales and income tax cuts, renter’s tax credits, health insurance subsidies and more highlighted the affordability measures Senate Democrats proposed Thursday.

Legislators want multiyear relief. Administration says don’t over-promise.

Is it fair to tax a person raising three children at the same rate as someone supporting only themselves? State Rep. Anthony Nolan, D-New London, doesn’t think it is.

More than half a billion dollars flowed back into Connecticut households last year through the Earned Income Tax Credit, yet state officials say tens of thousands of eligible residents still are not claiming the refundable benefit — even after more than 50 years of putting money back into working families’ pockets.

Caucus plan would struggle to remain balanced in future years.

A number of provisions in President Donald Trump’s blockbuster bill to enact his second-term agenda will go into effect throughout the year.

In its first real act of the new session, the General Assembly moved to create a $330 million fund to mitigate potential federal funding cuts to social services, housing and healthcare programs.