CT is taxed enough THE BIGGEST TAX INCREASE INn

CT is taxed enough

THE BIGGEST TAX INCREASE IN CT HISTORY IS COMING SOON: On Tuesday, the Appropriations Committee voted favorably on a new two-year budget. The first year of the budget would be about $395 million or about 1.9 percent more than the current level of spending. The second year would be a 3.6 percent spending increase, about $768 million.
Yesterday, FRB committee put forth a revenue package that raises $936 million in new taxes in the first year and $1.28 BILLION in the second year.
Here is a complete list of new taxes, including those put forth by the Governor’s office and those recently approved by the action of Democrats in the Finance, Revenue and Bonding Committee:
A new 2% Tax on Capital Gains
Property Tax Credit – Removed Scheduled Expansion
Tax for Rideshare
Increase in Sales Tax on Meals
10% Tax Increase on Alcohol
Increase Tax rate on Movies 6% to 6.35%
Eliminate 5 year, $500 credit for STEM college graduates
Tax interior design services
Tax dry-cleaning and laundry services, incl. coin-operated
Tax parking
Tax on digital downloads from 1.0% to standard 6.35% rate
Tax Safety apparel
Maintain current 10% business surcharge set to expire in tax year 2019
Tax E-Cigarettes liquid at 75% wholesale
Increase Minimum Markup on Cigarettes
Increased Sales due to Ecig Excise
Maintain Hospital User Fee at FY 2019 level of $900 million
Implement recommendation of ambulatory surgical center tax study
Surcharge on Plastic Bags of 10 cents
Increase annual filing fee for LLC’s and LLP’s from $20 to $100
Eliminate increased exemption for social security income
Eliminate exemption for pension and annuity income
Eliminate the sales tax free week
Tax legal services
Tax on accounting services
Tax on architectural services
Tax on engineering services
Tax on real estate activities and agents/brokers
Tax on veterinary services
Tax on barber shops and beauty salons
Tax on massage therapists and electrology services
Tax on sports/recreation instruction and industries
Tax on horse boarding and training
Tax on travel arrangement and scenic transportation
Tax on services to buildings and dwellings
Tax on waste collection
Tax on Renovation and repair of residential property
Tax on Repair or maintenance of vessels
Tax on Winter boat storage
Tax on Increase tax on boats from 2.99% to standard 6.35% rate
Tax Increase hotel occupancy tax from 15% to 17%
Tax on Trade-ins for vehicles
Tax on Non-prescription drugs
Tax on Text books, college & professional schools
Tax on Newspapers and magazines
Tax on Connecticut credit unions
Tax on Campground rentals
Tax on Bicycle helmets
Tax on child car seats
Tax on vegetable seeds
A new 25 cent deposit on wine and liquor glass bottles
A new Add 5 cent bottle deposit to nips
A new tax on payroll to fund state-run Family Medical Leave
Sources: Hartford Courant, Rick Green -
CT Patch, Rich Scinto - CT Mirror, Keith M. Phaneuf - CT Post, Ken Michael Dixon