The CT Mirror (https://ctmirror.org/tag/corporation-tax/)
Democratic gubernatorial nominee Ned Lamont unveiled a jobs plan Wednesday centered on three business tax cuts — and a previously disclosed middle-class income tax break — none of which he could provide without solving a much-larger state budget deficit. Continue Reading →
Progressive Democrats in the General Assembly pushed back Friday against the state’s new fiscal stability panel, charging its recommendations shortchange key priorities, like poor cities, education and social services. Continue Reading →
A much-anticipated report on stabilizing state finances and jump-starting Connecticut’s economy isn’t likely to get far before legislators adjourn in early May to run for re-election. Continue Reading →
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 →
Majority Democratic legislators want Connecticut to invite businesses to pay more taxes — voluntarily — next spring — in exchange for a contractually guaranteed tax break down the road, according to several sources within the House and Senate Democratic caucuses. Continue Reading →
The company says Boston was selected “after a careful evaluation of the business ecosystem, talent, long-term costs, quality of life for employees, connections with the world and proximity to other important company assets.” Continue Reading →
Gov. Dannel P. Malloy and his fellow Democrats in the legislature’s majority said Thursday they believe they had reached the essence of a deal to mitigate state budget deficits and offer modest tax relief to businesses. Malloy announced he would call the General Assembly into special session on Tuesday in the hopes of adopting the package. Continue Reading →
State budget talks made little progress Wednesday but will continue for at least one more day as legislators from both sides conceded a self-imposed deadline is nearly upon them. Gov. Dannel P. Malloy also hopes to extract new business tax relief from these talks and confirmed he continues to talk with General Electric in hopes of keeping the major corporation in Connecticut. Continue Reading →
While state legislators were upbeat after a second round of budget talks Tuesday with Gov. Dannel P. Malloy, they conceded that a proposal to offer retirement incentives to state workers — though not dead — had been weakened considerably. Continue Reading →
According to several sources close to the bipartisan talks that begin today, Gov. Dannel P. Malloy’s administration will suggest a modest business tax cut to improve Connecticut’s economic climate. Continue Reading →
A public hearing on how to reform Connecticut’s tax system evolved Wednesday — at least in part — into a critique of the $1.3 billion tax hike built into the two-year state budget legislators and Gov. Dannel P. Malloy approved earlier this summer. Continue Reading →
The State Tax Panel is kicking off a four-month study of the state’s tax system and economy, but in theory it will not address whether taxes are too high or too low, or whether certain groups should pay more or less. Continue Reading →
Two members of the Senate’s Republican minority called Friday for a special session to entice GE to stay by repealing a controversial new corporation tax provision. Continue Reading →
Thrown a last-minute challenge to collect an extra $75 million in revenue for the past fiscal year, state tax officials topped the mark, collecting nearly $86 million in miscellaneous receipts before the fiscal year ended on June 30. Continue Reading →
What separates retired Connecticut teachers from the working poor, middle-income consumers, corporations and insurance companies? In the context of the new state budget, it’s the ability to get a tax break. Continue Reading →