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
Shipman & Goodwin attorney Louis Schatz authored the article Connecticut’s Response to the Tax Cuts and Jobs Act of 2017(Part II) for the New York State Society of Certified Public Accountants online tax publication, Tax Stringer. An excerpt from the article is provided below.
This article is the second in a two-part series about
As part of his proposed budget presented to the General Assembly last week, Governor Lamont proposed the elimination of the Connecticut gift tax. Presently, and as noted in the Governor’s budget proposal, Connecticut is the only state with a gift tax. The Governor’s proposal would eliminate imposition of the gift tax but provide for a
When Connecticut enacted legislation in 2017 to become a mandatory withholding state, effective January 1, 2018, for Connecticut residents receiving pension, 401(k), IRA or annuity distributions, few would have imagined the difficulty residents and payers would have understanding the new rules, including how the exception from withholding would apply for rollover distributions. Nor would many
Shipman & Goodwin attorney Louis Schatz authored the article Connecticut’s Response to the Tax Cuts and Jobs Act of 2017 (Part I) for the New York State Society of Certified Public Accountants online tax publication, Tax Stringer. An excerpt from the article is provided below.
The Tax Cuts and Jobs Act of 2017 (TCJA)
Shipman & Goodwin attorneys Alan Lieberman and Robert Day will summarize Connecticut tax legislation enacted, court decisions rendered and administrative guidance published by the Connecticut Department of Revenue Services during 2018.
When: March 5, 2019
Where: Fairfield County Bar Association
970 Summer Street
Stamford, CT 06905
The 2018 session generated significant Connecticut tax
While aspects of Connecticut’s income tax have received attention recently, somewhat lost in the conversation is the increase in the Connecticut estate and gift tax exemptions in 2019 and the planned increase in those exemptions over the next several years. Legislation passed during the 2018 session of the Connecticut General Assembly increased the exemption for
Shipman & Goodwin attorneys Alan Lieberman and Robert Day III will be speakers at CTCPA’s State Tax 360° Conference.
Alan and Stephen LaRosa of Alexion Pharmaceuticals will present the Legislative Update session. Robert will present the session State Tax Implications of the Federal Tax Reform also with Stephen LaRosa.
For more information or to register,
Although the 2018 legislative session of the Connecticut General Assembly ended with the adoption of bipartisan budget legislation, it was marked by a continued failure to conduct a more holistic review of the state’s sources of expense and revenue. Such a review was invited by the 2015 report of the State Tax Panel and the more recent report of the Commission on Fiscal Stability and Economic Growth, but there seemed to be little appetite for debate on the subject in this gubernatorial election year.
Continue Reading 2018 Connecticut Tax Developments: A Year of Reaction Rather Than Proaction
Shipman & Goodwin attorneys Alan Lieberman and Louis Schatz authored the article “2017 Survey of Connecticut Tax Law Developments” which was published in Connecticut Bar Journal. This survey summarizes Connecticut tax legislation enacted, court decisions rendered, and administrative guidance published by the DRS during 2017.
Click here to read the full article.