Last year, the Connecticut General Assembly enacted the pass-through entity tax at the flat rate of 6.99% on most pass-through entities, including partnerships, S corporations and limited liability companies that are treated as partnerships or S corporations for federal income tax purposes.  Initially, each individual owner of a pass-through entity was entitled to a refundable

Earlier this year, the Connecticut legislature repealed the biannual business entity tax (“BET”) of $250 for years commencing on or after January 1, 2020. The BET applied to each limited liability company, limited liability partnership, limited partnership and S corporation formed under the laws of Connecticut or registered to do business in Connecticut.

Since the

During the recently concluded 2019 legislative session, the Connecticut General Assembly passed an amendment of Connecticut General Statutes § 12-391(e)(2)(B) that is of critical importance to nonresidents who own real or tangible personal property located in Connecticut.

Prior to this amendment, some nonresidents formed business entities and transferred ownership of their Connecticut real or tangible

On July 1, 2019, President Trump signed into law the Taxpayer First Act of 2019 which, among other things, expands the types of tax-exempt organizations that must file their annual returns electronically.

Currently, a tax-exempt organization is required to e-file its annual Form 990-series return (990, 990-EZ, 990-N, 990-T or 990-PF) only if the tax-exempt

On June 26, 2019, Governor Ned Lamont signed a $43.4 billion budget for the 2020 and 2021 fiscal years. The biennial budget addresses the projected $3.7 billion budget deficit for the period, but still increases spending by 1.7% in the 2020 fiscal year, and by 3.4% in the 2021 fiscal year. Although a letter dated

Connecticut is one of many states that imposes a corporate income tax on the unrelated business taxable income of tax-exempt organizations. Tax-exempt organizations subject to this tax include charitable organizations, social welfare organizations, business leagues, trade associations, and social clubs. Unrelated business taxable income is income from a regularly-carried on trade or business activity of