Residents turned to municipal bonds to lower their tax burden, which in turn lowered borrowing rates for state governments.
state and local income taxes
Posted inMoney, Politics
CT joins other ‘blue’ states in looking to skirt new tax law
WASHINGTON – “Blue” states like Connecticut that say they were targeted in the GOP’s federal tax overhaul are looking for ways to protect their residents from the negative impact of the new cap on the deductibility of state and local taxes.
Posted inMoney, News, Politics
As Congress readies tax overhaul, an accountant explains its impact on Connecticut taxpayers
As a historic overhaul of the nation’s tax code nears the finish line, Connecticut taxpayers have deluged their accountants with questions over its impact on their households or businesses. In this Sunday conversation, Andrew Lattimer, a certified public accountant and tax specialist at the West Hartford office of BlumShapiro, explains how the new tax plan would affect Connecticut taxpayers.
Posted inMoney, Politics
Senate tax bill would have big impact on CT homeowners, small businesses
WASHINGTON – The Senate decided to go its own way in overhauling the nation’s tax code, and it’s plan would have a different impact on Connecticut taxpayers than a similar House bill. One big change is that Connecticut homeowners would no longer be able to deduct their property taxes on their federal returns.
Posted inPolitics
Larson sees ‘same result’ for GOP tax plan as Obamacare repeal
WASHINGTON — As a member of the House Ways and Means Committee, Rep. John Larson is on the front lines of Democratic opposition to the Republican plan to overhaul the federal tax code. He says the proposal is especially bad for taxpayers in Connecticut and predicts it will follow the same path to failure as the GOP attempt to repeal and replace Obamacare.