- Property Tax Credit: The Proposal would
Connecticut Supreme Court Upholds Property Tax Assessment on Out-of-State Vehicles
The Connecticut Supreme Court recently upheld the constitutionality of taxing an out-of-state company’s vehicles in Connecticut. The court upheld a New Britain Superior Court’s decision from 2022 that the Town of Somers did not violate the dormant commerce clause of the U.S. Constitution by taxing vehicles owned by a Massachusetts LLC and registered in Massachusetts
Connecticut Governor Ned Lamont Proposes $500 Million of Tax Cuts as Part of his 2023 Two-Year, $50.5 Billion Budget
On February 8, 2023, Governor Ned Lamont presented Connecticut lawmakers with a $50.5 billion two-year budget that called for more than $500 million in tax relief to Connecticut taxpayers. At this point it is unclear how much of the Governor’s tax cut proposals will be adopted by the Legislature, but since the Democrats control both the
2022 Connecticut Tax Developments
This newsletter summarizes Connecticut tax legislation enacted, court decisions rendered, and administrative guidance published by the Connecticut Department of Revenue Services (DRS) during calendar year 2022. Please contact a member of our State and Local Tax Practice Group if you have any questions regarding the new tax law changes and how they may affect you and
Lou Schatz to Present at 2021 NCCPAP Virtual Accounting and Tax Symposium
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
2021 Connecticut Tax Developments
Opportunity Lost? The New State Biennial Budget
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,
2020 Connecticut Tax Developments
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
DRS Announces COVID-19 Related Extension of Deadlines for Filing Administrative Protests and Suspension of Deadlines for Filing Tax Appeals
In Announcement 2020(7) the Department of Revenue Services (“DRS”) announced that it was extending the time that a taxpayer has to file certain administrative protests with the DRS’s Appellate Division in response to a notice of assessment or a proposed disallowance of a claim for refund. In addition, the DRS has extended the time that
IRS Extends More Tax Filing and Payment Deadlines
On Thursday, April 9, the IRS announced, in Notice 2020-23 (the “Notice”), that it was providing expanded filing and tax payment relief. In general, the IRS Notice provides all taxpayers with a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020, until July 15, 2020, to file returns
FFCRA Payroll Tax Credit for Employers
On March 18, 2020, President Trump signed into law H.R. 6201, the Families First Coronavirus Response Act (“FFCRA”). Among other things, the FFCRA requires employers with less than 500 employees to (i) provide up to 12 weeks of partially-paid leave to parent caregivers of minor children home as a result of COVID-19 related school