taxes

The legislature’s Finance, Revenue and Bonding Committee approved state income tax cuts Thursday for the poor and middle class and a one-time bailout for restaurants, largely funding them with two tax surcharges on the wealthy and a new levy on digital media ads.

As municipalities across Connecticut continue to cut expenses to accommodate pandemic-related burdens, many are calling on the state legislature to provide much-needed assistance -- assistance they say has been owing for some time. 

The General Assembly session is getting interesting, as lawmakers trot out their proposals. But this year does not resemble a normal session.  COVID-19 rules keep lawmakers at arms length from each other, and from lobbyists and the public. 

Today we talk to House Speaker Matt Ritter about how much lawmakers will be able to get done.  Are they doing the right thing by extending the governor’s emergency powers?  And is now the time to start phasing out a religious exemption to school vaccination requirements?

Connecticut’s tax fairness debate took another leap forward recently when the Senate’s highest-ranking Democrat proposed new taxes on high-value homes and on the capital gains of the state’s highest earners.

Tax filers who qualify for free tax prep may not be able to get in-person help this filing season because of pandemic restrictions.

Three years have passed since lawmakers celebrated passing a budget that aimed to narrow the vast disparities in school spending by ZIP code by funneling millions more each year to struggling districts.

There are just over 10 million cases of coronavirus globally and almost 500,000 deaths. U.S. deaths recently rose to 125,000.

Yet, the Trump Administration continues to downplay the seriousness of this pandemic. The White House Coronavirus Task Force met Friday for the first time in two months, with Vice-President Pence acknowledging the surge in several states but insisting, "We're in a much better place," than we were two months ago. 

State auditors reported Wednesday that the state Department of Community and Economic Development ignored or misinterpreted state law in administering millions in grants and loans during the administration of Gov. Dannel P. Malloy.

The legislature’s bipartisan Auditors of Public Accounts highlighted grants to two unidentified companies: one that received $16 million, when it was eligible for $10 million; and another that was granted $20 million, when it qualified for $10 million.

It’s tax season. Filing taxes can be a complicated and intimidating process. And ProPublica has found that big names in e-filing, like TurboTax, are actually making it more difficult for Americans to file easily and free of charge. This hour, we talk with a reporter behind the investigation, and find out whether you can file your taxes for free.

A state bill that would levy a 35% excise tax on ammunition purchases drew a large crowd at a public hearing at the state Capitol Thursday. 

Can the states agree to mutually disarm when it comes to the billions of dollars in economic incentives that are spent annually coaxing companies to move, expand or sometimes merely stay put?

State lawmakers said Tuesday it is worth trying to find out. They are filing legislation directing Connecticut to join a nascent effort to develop an interstate compact banning company-specific incentives that are essential to corporate border wars.

A leading child advocacy group challenged state leaders Wednesday to reverse escalating income and wealth inequality and provide tax relief for up to 90% of Connecticut by shifting tax burdens onto the state’s millionaires.

The General Assembly unanimously voted in special session Wednesday to accept the settlement of a high-stakes lawsuit in which the hospital industry claimed billions in damages from a complex taxing scheme that increased federal Medicaid reimbursements for the state without producing new revenue for the hospitals.

Connecticut hospitals will receive $1.8 billion in state and federal funds between now and 2026 to resolve a lawsuit that could have cost the state as much as $4 billion, according to details released Thursday by Gov. Ned Lamont.

The agreement includes a one-time payment of $79 million to the industry, along with steadily declining taxes on hospitals — and increasing state payments to facilities — between now and 2026.

It was one of the talking points casually employed last week by Patrick Sasser, a leader of the No Tolls CT movement: Why should anyone believe a suggestion by Gov. Ned Lamont that the tolls he was seeking could be temporary, when that was how the income tax was sold in 1991?

That whole debate about tolls was getting so old.

Now, we get to talk about the new debate at the capitol - over rotisserie chicken! Yes, a plan to tax more prepared food - which already faced opposition - was rolled out by the Lamont administration in a way that he’s already walking back. Way more food items faced a higher tax than anyone expected.

Gov. Ned Lamont announced Tuesday he expects the new sales tax surcharge on prepared foods will be scaled back — and applied to a narrower range of items — before it takes effect on Oct. 1.

Senate Democrats backed away Monday from the new sales tax surcharge on prepared foods, saying Gov. Ned Lamont’s administration made it far broader in scope than lawmakers intended.

Shoppers will pay a higher sales tax rate on far more than restaurant meals when a new 1% surcharge kicks in on Oct. 1, Republican lawmakers charged Thursday.

The extra penny will come on each dollar spent on popsicles and other frozen treats, doughnuts and bagels, pizza slices, hot dogs, smoothies, power bars, a hot bag of popcorn, and even pre-packaged bags of lettuce and spinach, according to written guidance prepared for grocery stores and other retailers by the Department of Revenue Services. 

When D&D Market closed its Franklin Avenue storefront in Sept. 2016, Hartford lost more than a landmark small business.

The third-generation family grocer, caterer and purveyor of fresh foods traces its Capital City roots back to 1932, when present-day owner Daniel D’Aprile’s grandfather opened a bustling market that became a mainstay on one of Hartford’s most vibrant small-business corridors.

For all the recent attention bestowed on Democratic Party progressives, there's new evidence so-called centrists aren't going to just fade away.

Not with former Vice President Joe Biden taking a commanding early lead over the many 2020 Democratic presidential hopefuls running to his left. National polls released Tuesday cast Biden well ahead of Bernie Sanders, Elizabeth Warren, and others vying for the party's nomination.

Monday was the deadline for Americans to file their 2018 tax returns, and it was also a day for many to commiserate about paying those taxes, particularly as changes to the tax code are now being realized.