Connecticut Audit, Tax and Consulting Offices

Connecticut Insights

State tax law changes for the second quarter of 2021

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending June 30, 2021.

Some states appear to hold the line on taxes, most won’t

Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.

Connecticut enacts sweeping tax bill for 2019-20 fiscal year

Budget bills address pass-through entity tax, sales tax base and nexus changes, tax credits and reporting obligations.

Connecticut estimated payment guidance on pass-through entity tax

Due to recent legislation, pass-through entities are now required to make estimated tax payments throughout the course of the tax year.

Connecticut responds to the Tax Cuts and Jobs Act

State tax reform package includes two workarounds to the state and local tax deduction limitation; decouples from TCJA provisions.

Connecticut releases notice on single-sales factor and market sourcing

Department of Revenue Services provides guidance on recent legislative apportionment changes to the state business tax and income tax.

Connecticut enacts market-based sourcing bill

Connecticut enacts bills to implement market-based sourcing and unified apportionment methodology.

Connecticut adopts significant tax changes in biennial budget

Connecticut Gov. Daniel Malloy signs the state’s biennial budget and an implementer bill that revised numerous tax changes.

Connecticut use tax penalties

Connecticut classifies use tax noncompliance as a felony, creating potential for serious repercussions for taxpayers and tax preparers alike.