A nationwide move towards cloud-based computing and data storage centers signals expected growth for Connecticut’s data center industry. In a recent Hartford Business Journal article, Shipman’s Lisa Zana Real Estate Partner and Chair of the Data Center Practice discussed various tax incentives and practical benefits for investors and owners who seek to fund or
Louis Schatz and Alan Preis, CPA, will present the session “Current Developments in NJ/CT Taxation” during the 2021 NCCPAP Virtual Accounting and Tax Symposium.
Lou will review recent Connecticut tax developments, including legislative, judicial, and administrative changes. Particular emphasis will be placed on Connecticut’s 2021 legislative changes, including new legislation impacting the treatment of teleworking
The Connecticut Department of Revenue Services (DRS) announced the launch of its Tax Amnesty Program. The program began November 1, 2021 and ends January 31, 2022. The program offers taxpayers who owe Connecticut taxes the opportunity to satisfy outstanding tax liabilities on a favorable basis. In particular, the program provides a 75% reduction in interest,
Lou Schatz will present the session, “2021 Connecticut Legislative, Administrative and Judicial Tax Update” during the Connecticut Society of CPAs State Tax 360° Conference. This session will provide a detailed summary of the Connecticut tax law changes adopted by the 2021 legislative session. In addition, the session will review recent administrative guidance issued by the
Connecticut adopted a $46.4 billion budget for the two-year period that commenced July 1, 2021, reflecting a 2.6% spending increase for the first year and a 3.9% spending increase for the second year. There is much to love and hate about the budget regardless of your political persuasion,
Lou Schatz presented the session “2021 Connecticut Tax Developments” at the 2021 Connecticut Tax Conference, hosted by the Connecticut Business & Industry Association (CBIA). The half-day program focused on the 2021 General Assembly session, including changes to federal tax law and how it impacts your tax return and your company’s bottom line and Connecticut tax
At long last, the Connecticut Revised Nonstock Corporation Act is being amended to permit remote meetings of a nonstock corporation’s members. Previously, only meetings of a board of directors or board of trustees could be held remotely. Meetings of members were required to be held in person.
The new legislation permitting remote meetings for members
In early March, Connecticut took a competitive step to encourage the investment in data centers and colocation facilities, an industry that has had substantial growth in recent years throughout the nation, especially as the data needs of every business have increased during the pandemic. Such investment can be an attractive alternative to revive properties whose
The focus of the nation in 2020, including the State of Connecticut, was first and foremost on addressing the worldwide pandemic and the resulting social and economic turmoil. From the state and local tax perspective, Connecticut, like the vast majority of states, extended deadlines for the filing of tax returns and the making of tax
The American Rescue Plan Act of 2021 (“ARPA”), which was signed into law last month by President Biden, brought about many changes as part of its $1.9 trillion legislation. One significant impact of the ARPA was the expansion of eligibility for tax credits to certain governmental employers that voluntarily provide qualifying paid sick and family