Here's what's happening at the DRS, right from DRS Commissioner Mark Boughton.
The bill requires CPAs to keep work product and workpaper related to work for a client for at least seven years after creation unless the law requires a longer retention. Current law only specifies that CPAs must retain workpaper as required by law.
Governor Ned Lamont today announced that thousands of low-to-moderate income working individuals and families in Connecticut will see a significantly larger state tax refund as the Connecticut Earned Income Tax Credit is scheduled to increase from its most recent rate of 23% of the federal credit to 30.5% this year.
A state program that offers unemployed individuals up to $1,000 for finding a job has received 5,400 applications, at an average of about 25-50 per day.
Connecticut has been making strides to improve its business-friendliness ranking and is inching its way up with the help of a public-private partnership.
Since he took office 2 1/2 years ago, Gov. Ned Lamont has watched the cash pour into Connecticut’s coffers. Even a coronavirus-induced recession couldn’t stop analysts from forecasting big surpluses for the next two years. But much of that good fortune is due to a tax system and other policies Lamont inherited.
Many in Massachusetts are waiting with bated breath to see whether Governor Charlie Baker will make any coronavirus-related policy changes following new federal guidance this week surrounding mask-wearing.
As claims administrator, Aflac will accept applications, determine eligibility, and administer benefits for paid leave. Individuals will have flexible options to submit applications for paid leave, either online, by email, or by calling directly into a customer care advocate.
Connecticut's Office of Fiscal Analysis is projecting the state's cannabis industry will generate $20.4 million in tax revenue in its first full year of operation, and over $55 million in its fourth year.
Governor Ned Lamont is reminding Connecticut residents that – as a result of legislation he enacted two years ago scheduling several increases in the minimum wage over a five-year period – the minimum wage in the state will increase from the current rate of $12.00 per hour to $13.00 per hour beginning on Sunday, August 1, 2021.
Updated guidance released by the Centers for Disease Control and Prevention on Tuesday urging mask-wearing in schools did not prompt Gov. Ned Lamont to make any immediate decisions about what will be in store for kids and teachers returning this fall.
When lawmakers adopted a new, two-year state budget in early June, some observers blinked at the unprecedented, $2.3 billion surplus built into the package.
Connecticut's state Bonding Commission could vote tomorrow on whether to direct $20 million in bond funding to the Manufacturing Innovation Fund, which underwrites key manufacturing industry programs.
The following is an overview of legislation passed during the 2021 Regular Session and June Special Session affecting state taxes.
The Commissioner of Massachusetts' Cannabis Control Commission said Connecticut should take its time in standing up a legal recreational cannabis market, partly to ensure the market isn't dominated by large players.
The Connecticut State Colleges and University system announced Tuesday it will forgive $17 million in community college student debt accrued during the pandemic.
Despite a recent increase in Connecticut’s COVID-19 positivity rate, Gov. Ned Lamont said Tuesday he was reluctant to renew any of the pandemic-inspired public health orders he lifted in May.
Parents and school administrators in Connecticut are waiting on the state to signal whether it will require students who are not vaccinated against the coronavirus to wear masks in classrooms during the coming school year.
Bracing for a coming wave of managerial retirements, Gov. Ned Lamont is giving the same 7.5% raises to non-unionized managers that union members received over the past four years under a 2017 contract.
While Connecticut wiped out $1.25 billion of its massive, long-term pension debt this month, it still has decades to go to cover the remainder — nearly $40 billion.