In May we wrote about a Connecticut Senate Bill 435 (S.B. 435) and certain proposed federal legislation which would have created incentives for Connecticut employers to help their student loan-burdened employees pay down their debt.

The 2019 legislative session adjourned in June, and at that time, S.B. 435 had been referred to the Committee on

One hotly debated aspect of the Affordable Care Act (“ACA”) has been the so-called “Cadillac Tax” on high-cost health benefits, currently slated to take effect in 2022.  The Cadillac Tax is a 40% excise tax on the amount of employer-sponsored health care coverage which exceeds $10,200 for individuals and $27,500 for families.  (Higher thresholds apply

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Earlier this year, the Connecticut legislature repealed the biannual business entity tax (“BET”) of $250 for years commencing on or after January 1, 2020.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