Lou Schatz presented the session “2021 Connecticut Tax Developments” at the 2021 Connecticut Tax Conference, hosted by the Connecticut Business & Industry Association (CBIA).  The half-day program focused on the 2021 General Assembly session, including changes to federal tax law and how it impacts your tax return and your company’s bottom line and Connecticut tax

At long last, the Connecticut Revised Nonstock Corporation Act is being amended to permit remote meetings of a nonstock corporation’s members.  Previously, only meetings of a board of directors or board of trustees could be held remotely. Meetings of members were required to be held in person.

The new legislation permitting remote meetings for members

In early March, Connecticut took a competitive step to encourage the investment in data centers and colocation facilities, an industry that has had substantial growth in recent years throughout the nation, especially as the data needs of every business have increased during the pandemic.  Such investment can be an attractive alternative to revive properties whose

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

On March 4, 2021, Governor Lamont signed H.B. 6516, An Act Mitigating Adverse Tax Consequences from Employees Working Remotely During COVID-19, and Concerning the Removal of Liens on the Property of Public Assistance Beneficiaries and a Three-Tired Grants in Lieu of Taxes Program.

This new law allows Connecticut residents to take credits for

Update: On March 1, 2021, H.B. 6516 passed the Senate by a 28 to 7 vote.  The Governor has indicated that he intends to sign the bill. We will follow H.B. 6516 and related bills as they make their way through the legislative process and will update when more information is available.

Update: On February

Recent coronavirus-related guidance from the IRS (Notice 2020-29, issued on May 12) aims to give Code Section 125 cafeteria plan (“cafeteria plan”) participants some relief from irrevocable group health benefit and health and dependent care flexible spending account (“FSA”) elections made prior to the pandemic.

Under Notice 2020-29, an employer who offers group health benefits

On Friday, March 27, 2020, the President signed into law the Bipartisan Proposal for Coronavirus Aid, Relief, and Economic Security Act (also known as the “CARES Act”).  The Cares Act is a massive 2.2 trillion dollar package that contains a number of provisions to assist the United States economy combat the impact of COVID-19.  This

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

Prompted by the COVID-19 pandemic, the Treasury Department and the Internal Revenue Service (“IRS”) announced on March 21, 2020 that the federal income tax filing due date has been automatically extended from April 15, 2020 to July 15, 2020. The IRS further announced that taxpayers can also defer federal income tax payments due on April