Ideas & Insights

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

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

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

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

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

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

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

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