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

Lou Schatz will present the session, “2021 Connecticut Legislative, Administrative and Judicial Tax Update” during the Connecticut Society of CPAs State Tax 360° Conference. This session will provide a detailed summary of the Connecticut tax law changes adopted by the 2021 legislative session.  In addition, the session will review recent administrative guidance issued by the

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,

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