Press Releases (HARTFORD, CT) – Governor Ned Lamont today held a news conference in Hartford to announce his first legislative proposal of 2023, which includes restoring Connecticut’s pass-through entity tax credit to its original, revenue-neutral level of 93.01% and enabling small business owners in the state to save money by claiming a larger credit on their personal returns. The recommendation will be included as a component of the governor’s fiscal years 2024 and 2025 budget proposal, which he will present to the Connecticut General Assembly in February. “These changes we are proposing will help small businesses in Connecticut save money, which they can use to reinvest back into their establishments to support their continued growth and the development of new jobs,” Governor Lamont said . “By making this change, we can provide confidence to businesses that they can receive the full benefit of this tax credit.” Connecticut’s pass-through entity tax credit is a mechanism for business owners to avoid the state tax deduction limitation imposed on them during the administration of former President Donald Trump. For federal tax purposes, state business taxes are fully deductible, while deductions for state personal income taxes are limited to $10,000. To avoid this […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
