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Sales Tax

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Here's When CT 'Gas Tax Holiday' Plan For Relief On Prices Could Start Here's When CT 'Gas Tax Holiday' Plan For Relief On Prices Could Start
Here's When CT 'Gas Tax Holiday' Plan For Relief On Prices Could Start Connecticut Gov. Ned Lamont has a plan to provide motorists a bit of financial relief as gas prices at the pump continue to surge to record highs. Lamont announced on Monday, March 14 that there was a bipartisan agreement to enact a “gas tax holiday” that could begin within a week to eliminate the 25-cent per-gallon tax through the summer. According to the governor, the “holiday” will cost the state approximately $90 million and could cut the tax through Thursday, June 30. If approved by the General Assembly, the “holiday” could begin as soon as next week. Lamont added that the state may …

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by Zak Failla
News
COVID-19: Plastic Bag Fee Returns In Connecticut COVID-19: Plastic Bag Fee Returns In Connecticut
Covid-19: Plastic Bag Fee Returns In Connecticut After being suspended for more than three months, the plastic bag fee at retailers in Connecticut is back as the state recovers from the novel coronavirus (COVID-19) pandemic. Connecticut Gov. Ned Lamont signed an Executive Order on Thursday, March 26 suspending the $0.10 fee for each single-use plastic bag in an attempt to curtail the spread of COVID-19. That Executive Order expired on June 30, and as of Wednesday, July 1, retailers providing customers with plastic bags will once again be collecting the fee, which goes to the state’s Department of Revenue Services. If a store charges a …

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by Zak Failla
News
COVID-19 Crisis Could Cost Connecticut Billions, Lamont Says COVID-19 Crisis Could Cost Connecticut Billions, Lamont Says
Covid-19 Crisis Could Cost Connecticut Billions, Lamont Says The novel coronavirus (COVID-19) outbreak could wind up costing Connecticut billions of dollars and wiping out the state’s rainy day fund. Calling the numbers “sobering,” Connecticut Gov. Ned Lamont previously said that Connecticut will end the fiscal year with a $1 billion budget shortfall, with the number potentially doubling over the next cycle, which begins in July. Budget numbers released by the Office of Fiscal Analysis show Connecticut’s budget deficit this year grew to over $1 billion, an increase of more than $687 million over the previous estimate. Sales tax revenue dro…

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by Zak Failla
News
These New CT Laws Have Gone Into Effect In 2020 These New CT Laws Have Gone Into Effect In 2020
These New CT Laws Have Gone Into Effect In 2020 A new year is bringing some new laws for residents in Connecticut. Though elected officials won’t head back to work for another week, the dawn of 2020 is bringing a host of new laws that will impact residents in the Nutmeg State. Among the biggest changes coming to Connecticut residents: Minimum wage increase to $11 an hour, which took effect late last year; The smoking age has been raised to 21; Residents will only be required to renew their driver’s license every eight years, and vehicle registration every three years; Sales tax will be included in several formerly-exempt items - inclu…

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by Zak Failla
Lifestyle
Only NY Ranks Higher Than CT For Highest Taxes In Nation Only NY Ranks Higher Than CT For Highest Taxes In Nation
Only NY Ranks Higher Than CT For Highest Taxes In Nation A brand-new study has revealed that New York and Connecticut are paying the highest taxes in the country. 24/7 Wall Street released the report reviewing the “total tax burden as a share of income on a per capita basis” to identify the states with the lowest and highest tax burden. Federal taxes were not included in the calculations. The study found that New York led the way as the highest taxed state in the country, with 12.7 percent of income going toward taxes. Connecticut was just being at 12.6 percent. The study’s methodology can be found here. Details from the report include:  N…

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by Zak Failla
Politics
Lamont May Push Legislators To Extend Sales Tax To Groceries, Medication For First Time Lamont May Push Legislators To Extend Sales Tax To Groceries, Medication For First Time
Lamont May Push Legislators To Extend Sales Tax To Groceries, Medication For First Time Groceries and medications may soon be the subject of sales tax as Connecticut Gov. Ned Lamont attempts to cut into a reported $1.5 billion projected shortfall for the upcoming fiscal year. In an effort to close the projected shortfall, Lamont is considering introducing legislation that would see sales tax on groceries and other long-exempt items, according to a ctmirror.com report. The move would come in an effort to “bring fiscal stability” to the state. If approved by lawmakers, taxing groceries and other such items could generate hundreds of millions of dollars annually for the state, he…

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by Zak Failla