Connecticut income tax

Recent Posts

Opponents parse ‘reduce’ vs. ‘phase out’ in Boughton’s tax ad

A new Facebook ad from Republican gubernatorial candidate Mark Boughton says he would “reduce” the state income tax, prompting two opponents Friday to question whether the Danbury mayor had abandoned his pledge to phase out the tax over a decade. The Boughton campaign says nothing has changed. Continue Reading →

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Boughton, Stefanowski, have lots of confidence, few details on plans to phase out income tax

GOP gubernatorial contenders Mark Boughton and Bob Stefanowski say they would phase out the state income tax. But their rivals say those claims are false given that Connecticut faces huge projected deficits, skyrocketing pension costs and a controversial benefits contract that runs for nine more years. Continue Reading →

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Surging CT income tax receipts bolster budget reserve

An anticipated surge in state income tax receipts has bolstered Connecticut’s emergency reserves to nearly $900 million. But it remains unclear how much of that windfall is lasting — and how much is only an advance payment of funds Connecticut otherwise would receive in mid-April. Continue Reading →

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Federal tax changes further polarize debate over state income tax

Now that Congress has passed a massive federal tax overhaul, political observers here agree it could have a chilling effect on future proposals to raise the Connecticut income tax — even 14 months from now when a huge deficit looms in state finances. But liberals and conservatives were split over whether this is a good thing, as huge pressures are projected to test state finances in unprecedented fashion in the coming years. Continue Reading →

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Federal tax changes could create misleading budget ‘bubble’ in CT

Gov. Dannel P. Malloy’s administration warns the scramble to adjust to federal tax changes could produce a one-time revenue bubble here that might fool state legislators into underestimating serious problems with Connecticut’s finances. Continue Reading →

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Toubman: ‘If we don’t raise revenue somehow, we shred the safety net’

Attorney Sheldon V. Toubman of the New Haven Legal Assistance Association is one of Connecticut’s most ardent advocates for social services. In this week’s Sunday Conversation, he speaks with The Mirror about efforts of social service advocates to press for state tax increases to help close projected budget deficits and proposals to increase the income and sales taxes. Continue Reading →

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Boughton: Income tax phase-out is one piece of 10-year plan

DANBURY — As he explores a third campaign for governor, Republican Mayor Mark Boughton is testing a message not seriously proffered in two decades: a call for elimination of the state’s tax on wages. He says it’s not a stunt, but voters will have to wait to hear how he thinks Connecticut could get by without nearly half its revenue. Continue Reading →

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CT’s tax revenue plunge bottoms out at $1.5B

Updated at 3 p.m.
Analysts for Gov. Dannel P. Malloy’s adminstration and the legislature’s nonpartisan Office of Fiscal Analysis downgraded anticipated revenues for the next two fiscal years by $1.46 billion — nearly $600 million next fiscal year and $865 million in 2018-19 — largely because of eroding income tax receipts. Continue Reading →

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Most states faced plunging income tax receipts this April

Gov. Dannel P. Malloy took a political blow this April when plunging income tax receipts nixed his plans for an election-year rebate. But according to a new report from a nationally recognized public-policy, think-tank, Connecticut officials had lots of company nationally dealing with tax deadline chaos.
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