tax breaks

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CT beat out S.C., Florida, others for billions in helicopter work

Sikorsky's new heavy lift helicopter in flight testing.

WASHINGTON — Lockheed Martin was considering South Carolina, Florida and other states as places to build Sikorsky’s new CH-53K King Stallion helicopter – a Defense Department program expected to cost at least $25 billion – when the company and Gov. Dannel P. Malloy struck a deal to keep the work in Connecticut. Continue Reading →

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Malloy vetoes tax breaks passed on final night of session

Gov. Dannel P. Malloy assesses the state if budget negotiations for reporters Friday night.

Gov. Dannel P. Malloy vetoed two bills Thursday, siding with municipalities on one that would have allowed 100-percent property tax breaks in perpetuity for non-profit and for-profit arts entities. The other would have enhanced legislative oversight over economic-development incentives, and Comptroller Kevin P. Lembo called that veto “deeply troubling.” Continue Reading →

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Deadline looms for Congress to extend popular tax breaks

WASHINGTON – Unless Congress acts soon, Connecticut commuters, students, homeowners and businesses will lose a number of valuable tax credits and deductions. These credits and deductions, known as “extenders,” aren’t a permanent part of the tax code and must be renewed by Congress from time to time.
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Connecticut NASCAR tracks at risk of losing tax break

Stafford Motor Speedway Facebook image

WASHINGTON – When you think of NASCAR, Connecticut does not immediately come to mind. But the state has three small NASCAR racetracks that benefit from a tax provision that disappeared – with about 50 others – because Congress did not extend them last year. Continue Reading →

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