Connecticut Tax FAQs

• taxmOuth Connecticut Tax FAQs

Connecticut Tax Forms

• taxmOuth Connecticut Tax Forms

Connecticut Corporate Taxes

• taxmOuth Connecticut Corporate Taxes
• Connecticut Tax Rates & Brackets:
  
  7.5%>$0
  
• Loss Carry-back/fwd: 0 Years Back / 20 Years Forward (Unlimited)
• Throwback Sales?: N
• Foreign Tax Deductible?: Y
• Alternative Minimum Tax (AMT): N
• Gross Receipts Tax: N
• Capital Stock (Net Worth) Tax?: 0.310% ($1 Million Max.)

Connecticut Tax Incentives and Credits

• taxmOuth Connecticut Tax Credits
• Job Credits?: Y
• R&D Credits?: Y
• Investment Credits?: Y

Connecticut Individual Income Taxes

• taxmOuth Connecticut Individual Income Taxes
• Connecticut tax rates and brackets:
  
  3%> $0
  5%> $10,000
  
• Local Option IT Rate: None
• Federal Inc used as Base?: Y
• Standard Deductions: Single N/A / Joint N/A
• Personal Exemptions/Credits (c): Single $13,000 max. / Joint $26,000 max. / Dependent N/A
• Federal Tax Deductible?: N
• State Tax Deductible?: Y
• Alternative Minimum Tax (AMT)?: Y

Connecticut Estate, Gift and Inheritance Taxes

• taxmOuth Connecticut Estate and Gift Taxes
• Gift Tax?: Y
• Estate Tax?: Decoupled
• Inheritance Tax?: N
• Generation-Skipping Tax?: N

Connecticut Miscellaneous Taxes

• taxmOuth Connecticut Miscellaneous Taxes
• Gas Tax: 25.0 cents/gallon
• Diesel Tax: 43.4 cents/gallon
• Cigarette Tax: 200.0 cents/20 pack

Connecticut Pass-through Tax Treatment

• taxmOuth Connecticut Pass-through Entity Tax
• LLC Pass-through Recognized?: Y
• S-Corp Pass-through Recognized?: Y

Connecticut Payroll Taxes

• taxmOuth Connecticut Payroll Taxes
• Unemployment Insurance Tax Index (TaxFoundation.org): #34

Connecticut Property Taxes

• taxmOuth Connecticut Property Taxes
• Median Tax Paid on Homes (Rank): $4,603 (#2)
• Median Value of Homes: $306,000
• Tax as % of Home Value (Rank): 1.50% (#8)
• Median Income of Homeowner: $87,419
• Tax as % of Income (Rank): 5.27% (#3)

Connecticut Sales and Use Taxes

• taxmOuth Connecticut Sales and Use Taxes
• State Rate: 6.0%
• County & City (Weighted Ave): None
• Combined State and Ave. Local Rates (Rank): 6.00% (#32)
• General Treatment of Services: Many Taxable
• Gasoline: Exempt
• Groceries: Exempt