Shipman & Goodwin attorney Louis Schatz authored the article Connecticut’s Response to the Tax Cuts and Jobs Act of 2017 (Part I) for the New York State Society of Certified Public Accountants online tax publication, Tax Stringer. An excerpt from the article is provided below.
The Tax Cuts and Jobs Act of 2017 (TCJA) was signed into law on December 22, 2017. Most of the provisions of the New Federal Tax Act were effective January 1, 2018 (although some provisions went into effect in 2017). The adoption of the New Federal Tax Act had a significant impact on state taxation, especially in states like Connecticut, where the base for the Personal Income Tax starts with federal adjusted gross income. To read the complete article, click here.