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Events

2018 Connecticut Tax Update

Fairfield County Bar Association

March 5, 2019

Speakers: Alan E. Lieberman, Robert L. Day III

When:
March 5, 2019
Where:

Fairfield County Bar Association
970 Summer Street
Stamford, CT 06905

Shipman & Goodwin tax attorneys Alan Lieberman and Robert Day will summarize Connecticut tax legislation enacted, court decisions rendered and administrative guidance published by the Connecticut Department of Revenue Services during 2018.

The 2018 session generated significant Connecticut tax legislation, largely in reaction to the federal Tax Cuts and Jobs Act of 2017. Like many jurisdictions with a state income tax, Connecticut sought to counteract the new federal income tax limitation on the ability of individuals to take an itemized deduction for certain state and local taxes. The General Assembly enacted a new tax on pass-through businesses, such as Subchapter S corporations and limited liability companies, and other entities taxed as partnerships for federal income tax purposes. The Legislature also authorized each Connecticut municipality to establish a community support organization that can accept charitable contributions for the benefit of the municipality and be the basis for a credit against the municipality’s property tax. The efficacy of these attempts at federal tax relief may be limited based upon current and future federal and state guidance. In addition, Connecticut, together with other states, instituted a lawsuit challenging the new federal limitation on the deduction of state and local taxes.

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