News
Boston residents face 28% tax hike as office values slump
October 10, 2024
Boston homeowners face a 28% surge in their tax bills if the Massachusetts legislature fails to sign off on a proposal to temporarily raise commercial rates before the end of next month, Mayor Michelle Wu said.
Governor Lamont Announces FEMA Disaster Recovery Center in Wilton Closing, Southbury Location Remains Open
October 10, 2024
Governor Ned Lamont today announced that the Federal Emergency Management Agency (FEMA) is making a schedule change to Connecticut’s two recently opened Disaster Recovery Centers (DRCs) that have been providing in-person support with applying for federal disaster assistance to those impacted by the August 18, 2024, severe storm and flooding.
Policy groups urge CT to intensify saving to end pension debt
October 02, 2024
Conservative think-tanks say CT’s children could be spared billions in legacy debt.
New Data Privacy Protections Lead List Of New Laws Taking Effect Today
October 01, 2024
A raft of changes to how Connecticut law protects sensitive medical information, minors from online threats, and misuse of social media lead a group of dozens of new laws that take effect today.
Tax planning for the SALT cap
October 01, 2024
Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.
A look at some new CT laws taking effect on Oct. 1
September 30, 2024
Nearly 60 new Connecticut laws will take effect on Oct. 1, including legislation concerning line-of-duty deaths, home care worker protections and police body cameras.
Governor Lamont Announces Connecticut’s Minimum Wage Will Increase to $16.35 on January 1, 2025
September 27, 2024
Governor Ned Lamont today announced that beginning on January 1, 2025, Connecticut’s minimum wage will increase from the current rate of $15.69 per hour to $16.35 per hour.
$608.2 Million Deposited Into Connecticut’s Underfunded Pensions
September 26, 2024
Connecticut’s pension funds performed better than expected in the most recent fiscal year, showing double-digit returns even as the state continues to play catch-up with its massive unfunded pension liabilities.
CT companies put AI to work, but regulation remains uncertain
September 26, 2024
Businesses, developers say guardrails are important, but varied state laws create confusion.
Governor Lamont Announces Business Recovery Centers Open in Monroe and Oxford To Provide In-Person Assistance With Applying for Federal Disaster Aid From August Flooding
September 25, 2024
Governor Ned Lamont today announced that the U.S. Small Business Administration (SBA) has opened two Business Recovery Centers in Monroe and Oxford that are now providing in-person assistance to businesses seeking to apply for federal disaster aid for damages incurred due to the severe flooding the western portion of Connecticut experienced on August 18, 2024.
Governor Lamont Announces President Biden Approves His Request for a Major Disaster Declaration Due to August Severe Flooding in Western Connecticut
September 24, 2024
Governor Ned Lamont today announced that President Joe Biden has approved his request for a major disaster declaration due to the historic rainfall and extreme flooding that impacted towns and cities in western Connecticut on August 18, 2024.
Connecticut Department of Revenue Provides Updated Information for Taxpayers Impacted by Weather Events of August 18, 2024
September 19, 2024
This publication has been updated to address the guidance issued by the Internal Revenue Service (IRS) relative to the victims of severe storms and flooding in Connecticut and New York. In recognition of the recent IRS guidance, the Commissioner of Revenue Services will exercise the authority provided him under Conn. Gen. Stat.§ 12-2(a)(5) on a case-by-case basis and the Department of Revenue Services (DRS) will consider requests for relief from penalty and interest that would otherwise accrue on late filings and payments after September 30, 2024.
Reminder: MyCTSavings Registration Requirement for Businesses with 5 or More Employees
September 19, 2024
Businesses with 5 or more employees who do not offer a retirement plan and have been in business since January 1, 2023 are required to either register and enroll employees in MyCTSavings, or provide another qualified retirement plan. Once enrolled, employees have the option to opt-out, stay with the standard Roth IRA, or customize a Roth IRA by setting the deduction percentage and choosing from several fund options.
New Population Tool Provides Town-Level Info
September 13, 2024
CTData Collective and the state Department of Health have teamed up to launch a new online tool that will provide “groundbreaking” population data, migration patterns, and housing information down to the town level.
Governor Lamont Submits Request for Major Disaster Declaration To Secure Federal Assistance for Communities Impacted by Extreme Flooding on August 18
September 09, 2024
After a period of initial data collection and review as required by the Federal Emergency Management Agency (FEMA) and the U.S. Small Business Administration (SBA), Governor Ned Lamont today submitted a formal request to President Joe Biden seeking a major disaster declaration due to the historic rainfall and extreme flooding that impacted communities in Fairfield County, Litchfield County, and New Haven County on August 18, 2024.
Governor Lamont and Commissioner Eucalitto Announce Connecticut Awarded $3 Million in Federal Emergency Relief Funds for Immediate Road Repairs Due To Historic Flooding
September 05, 2024
Governor Ned Lamont and Connecticut Transportation Commissioner Garrett Eucalitto today announced that they have received notification from the U.S. Department of Transportation’s (USDOT) Federal Highway Administration (FHWA) informing them that the Connecticut Department of Transportation (CTDOT) is being awarded $3 million in “quick release” funding from its Emergency Relief program to aide in the immediate recovery efforts following the August 18 historic rain and flooding event in western Connecticut.
CT electric rate relief talks between Lamont, legislators continue
September 04, 2024
The governor warned immediate or significant relief is unlikely.
Comptroller Projects $239.6 Million Combined Surplus For FY2025 General Fund, Special Transportation Fund
September 03, 2024
Comptroller Sean Scanlon is projecting surpluses of $113.2 million for the General Fund and a $126.4 million for the Special Transportation Fund for Fiscal Year 2025, according to his monthly update.
Governor Lamont Provides Update on Recovery From Historic Rainfall and Flooding in Western Connecticut
August 31, 2024
Governor Ned Lamont today provided the following updates as of 2:00 p.m. on Friday, August 30, regarding Connecticut’s recovery from the August 18 historic rainfall and flooding.
Former longtime CBIA economist Gioia has died
August 30, 2024
Pete Gioia, the former longtime economist of the Connecticut Business & Industry Association, has died, according to CBIA President and CEO Chris DiPentima.