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

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Join Shipman & Goodwin tax attorneys Louis Schatz and David Bigger for this complimentary webinar reviewing significant issues that the IRS addressed in the new Opportunity Zones regulations and the impact that the new set of regulations will have on Opportunity Zone investments, both from an investor

On May 1, 2019 the Connecticut General Assembly’s Joint Committee on Finance, Revenue and Bonding approved and sent to the Senate, Substitute Bill 877 (the “Bill”). Although the Bill will likely be amended prior to its adoption by the Senate and the House, the Bill represents the first significant piece of proposed tax legislation that

With less than three weeks left in the regular session of the Connecticut legislature, two bills that are pending and awaiting further action by the legislature, if signed into law, would represent tax relief for Connecticut taxpayers who are paying for the care of their relatives in need of long-term/home health care, or who have

Assisting employees who are struggling with student loan debt is an emerging priority for many employers.  Following the Internal Revenue Service’s release in August 2018 of a private letter ruling, widely thought to have been requested by Abbott Laboratories, that permits the employer to “match” student loan repayments in the company’s 401(k) plan, there have

Although Section 408(d)(8) has been part of the Internal Revenue Code (“IRC”) for more than 10 years, and provides for a popular benefit by enabling persons who are older than age 70 ½ to make charitable contributions (up to $100,000 for a taxable year) by directing that all or any portion of their required minimum